33^rd Annual Financial Services Conference
December 9 & 10, 2020

Wednesday, December 9

1:00pm ET

Welcome & Introduction

Jack Gillis, Executive Director
Consumer Federation of America

1:05pm – 1:30pm ET

Keynote Address

Congresswoman Ayanna Pressley
United States House of Representatives

1:30pm – 2:20pm ET

The Broken Hub: Why the Credit Reporting System Perpetuates the Racial Wealth Gap and How to Fix It

The credit reporting and scoring systems are the hub our financial system. Credit history can impact the way that consumers are treated by lenders, landlords, utility companies, employers, and even, hospitals. And although, this system of data and algorithms is supposed to be “race neutral,” in practice, credit scores are disproportionately lower for Black and Latinx consumers. The system, like many in the American financial marketplace, is built on and continues to reproduce and expand racial inequities. But how do we fix it? Are there other data, like cash flow, rent payments, and other positive financial behaviors, that should be incorporated into credit reports? Do we turn to a public reporting agency, with new algorithms for determining creditworthiness and a renewed focus on transparency, accuracy, and equity? Do we come up with a new understanding of financial citizenship, one not based on hidden algorithms and deep racial inequities? This panel will bring together experts to address the racial inequities in our credit reporting and scoring system and their views on how we fix it.

Moderator

Chi Chi Wu, Staff Attorney
National Consumer Law Center

Panelists

Kelly Thompson Cochran,Deputy Director
FinRegLab

Amy Traub, Associate Director, Policy and Research
Demos

Frederick Wherry
Director, Dignity and Debt Network
Townsend Martin, Class of 1917 Professor of Sociology, Princeton University

2:20pm – 3:15pm ET

Systemic Racism and Unfair Discrimination in Insurance

The pricing, sale, and operation of insurance has been marked by structural racism and unfair discrimination against people of color for generations. This panel will examine public policy and market-based approaches to addressing systemic bias particularly in auto insurance. In addition, we will investigate strategies for identifying disparate impacts in the auto insurance market and consider analytical tools that could be deployed to ensure fairer market outcomes.

Moderator

Douglas Heller, Insurance Expert
Consumer Federation of America

Panelists

Hari Balakrishnan
Fujitsu Professor of Computer Science, Massachusetts Institute of Technology
Founder & CTO, Cambridge Mobile Telematics

Andrew Stolfi, Director, Oregon Insurance Commissioner
Oregon Department of Consumer and Business Services

Kalinda Ukanwa, Assistant Professor of Marketing
Marshall School of Business University of Southern California

3:15pm – 4:00pm ET

From the Ground Up: Attorneys General and their Role in Protecting Consumers during the COVID-19 Pandemic

The COVID-19 pandemic has exposed major inequities in American society and the ensuing financial crisis has left millions of American families struggling to get by. In the face of inaction by federal financial regulators and Congress, consumer protection has fallen to state governments, and Attorneys General across America have stepped in to stop the spread of both COVID-19 and of predatory actors in the marketplace. During this panel, we’ll hear from Attorneys Generals who have protected consumers against fraud and price gouging, stopped debt collection, helped keep homeowners and tenants in their homes, and continued to deliver restitution and relief through enforcement actions as the financial struggles wore on.

Moderator

David Vladeck, A.B. Chettle Chair in Civil Procedure
Georgetown University Law Center

Panelists

Gurbir S. Grewal, Attorney General
State of New Jersey

Maura Healey, Attorney General
State of Massachusetts

Thursday, December 10

1:00pm ET

Welcome & Introduction

Jack Gillis, Executive Director
Consumer Federation of America

1:05pm – 1:35pm ET

Keynote Conversation with Alice Rodriguez of JPMorgan Chase & Co.

1:35pm – 2:25pm ET

A Growing Divide: Examining the Relationships Between Race, Federal Policy, and the Housing Finance Market

In the aftermath of the financial crisis, the gap in homeownership rates between white families and families of color has grown to alarming levels. This panel will examine the racial disparities in the homeownership market to determine what role, if any, federal policies have played in improving or reinforcing existing differences in home access and value for communities of color. As part of the conversation, the panel will also discuss what policy changes or new proposals could help close the gap.

Moderator

Mitria Wilson-Spotser, Director of Housing Policy
Consumer Federation of America

Panelists

Carliss Chatman, Associate Professor of Law
Washington and Lee University

Gerron Levi, Senior Director, Government Affairs
NCRC

Aracely Panameño, Director of Latino Affairs
Center for Responsible Lending

2:25pm – 3:15pm ET

Will ESG Investing Promote a More Productive and Inclusive Economy?

Can ESG investing – evaluating companies based on their environmental, social, and governance practices – provide the foundation for a healthier, more productive, and inclusive economy? Or are critics justified when they decry ESG as a mere marketing gimmick or point to evidence of green-washing among self-styled ESG funds? Experts on ESG investing will discuss its potential, and policy changes needed, to de-couple capitalism from a mindless pursuit of profits to promote a more just and sustainable economy.

Moderator

Heather Slavkin Corzo, Head of US Policy
UN Principles for Responsible Investment

Panelists

James Andrus, Investment Manager in Board Governance and Sustainability
CalPERS

Chris Fidler, Senior Director, Global Industry Standards
CFA Institute

Adam Kanzer, Head of Stewardship – Americas
BNP Paribas Asset Management

3:15pm – 3:45pm ET

Keynote Conversation with SEC Commissioner Caroline A. Crenshaw

Moderator

Barb Roper, Director of Investor Protection
Consumer Federation of America