In the wake of the global financial crisis, countries around the world have been grappling with the need to develop a modern consumer financial protection system that simultaneously protects consumers and preserves and encourages competition, choice, and innovation. Rapid technological innovation promises the development of novel consumer products and seamless payment systems, but also raises novel issues of consumer privacy and data security. At the same time, the rapid growth of consumer protection agencies means that many lawyers and economists are coming to the field with little formal training in the economics or history of consumer credit, payment systems, data security, and related fields of study.
On Sunday, June 5 through Tuesday, June 7, the LEC will host The Consumer Credit Academy to provide a foundation for regulatory officials in the United States, Europe, Latin America, and elsewhere to learn about the related fields of consumer credit, consumer payment systems, and consumer data security, highlighted by a field trip to Visa’s state-of-the-art payments processing facility.
Those attending the program are also invited to attend the LEC’s Sixth Annual Public Policy Institute on Financial Services Regulation, on Tuesday, June 7 through Thursday, June 9. This program will focus on cutting-edge and emerging topics in the regulation of consumer credit, payment systems, and data security, including the migration to Chip & PIN cards in the United States, the regulation of Bitcoin and other blockchain technologies, new research in consumer credit, and issues at the intersection of the First Amendment and consumer payments. In addition, the program will feature a lecture by Charles Calomiris, author of Fragile by Design: The Political Origins of Banking Crises and Scarce Credit.
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