Financial Consumer Protection in the U.S. and the E.U.: A Preventive Building Block of Banking Bailout Law

Union University Law School Review, Belgrade, Serbia, at http://doi.fil.bg.ac.rs/pdf/eb_book/2021/union_pf_ccr/union_pf_ccr-2021-ch19.pdf

22 Pages Posted: 12 Feb 2021 Last revised: 20 Jul 2021

See all articles by Virág Blazsek

Virág Blazsek

University of Leeds School of Law; United Nations Joint Staff Pension Fund - Office of Investment Management; George Washington University Law School

Date Written: December 6, 2020

Abstract

This article evaluates the post-2008 legal/regulatory framework of financial consumer protection in the U.S. and the E.U. and argues that financial consumer protection is not sufficiently robust to have a significantly positive impact on financial stability. To turn this around, the article proposes a novel analysis of financial consumer protection and the strengthening of financial consumer protection with a broader, systemic stability-based argument, rather than a narrower, primarily competition law-based argument. This article proposes a more encompassing consumer protection definition, a catalog of chief areas and tools, and a more interdisciplinary approach in this new era that emphasizes the importance of financial education and international collaboration.

Keywords: Financial Consumer Protection, Financial Stability, Bailout, Financial Education, Financial Literacy, International Consumer Protection, E.U. Financial Consumer Protection, Consumer Financial Protection Bureau, Dodd-Frank Act

Suggested Citation

Blazsek, Virág, Financial Consumer Protection in the U.S. and the E.U.: A Preventive Building Block of Banking Bailout Law (December 6, 2020). Union University Law School Review, Belgrade, Serbia, at http://doi.fil.bg.ac.rs/pdf/eb_book/2021/union_pf_ccr/union_pf_ccr-2021-ch19.pdf, Available at SSRN: https://ssrn.com/abstract=3743771 or http://dx.doi.org/10.2139/ssrn.3743771

Virág Blazsek (Contact Author)

University of Leeds School of Law ( email )

Leeds LS2 9JT
United Kingdom

United Nations Joint Staff Pension Fund - Office of Investment Management ( email )

885 2nd Ave, 5th Floor
New York, NY 10017
United States
347.334.0741 (Phone)

HOME PAGE: http://https://virag-blazsek.com/

George Washington University Law School ( email )

2000 H Street, N.W.
Washington, DC 20052
United States

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