Charles Romeo is a Senior Economist in the Office of Research at the Consumer Financial Protection Bureau (CFPB). He has been at CFPB for 8 years. Before moving there, he spent 20 years in the economics profession with that time divided between the Antitrust Division of the Justice Department and as a professor at Rutgers University. He had not been exposed to either consumer finance issues or behavioral economics prior to his arrival at CFPB, so his time there has been a learning experience. He has completed research in the areas of small dollar loans and debt collection, and he has been involved in the debt collection and payday rulemakings. His prior research was in industrial organization with one focus on media markets and another on demand estimation and merger analysis. That work grew out of merger cases.
The economics of debt collection, with attention to the issue of salience of collections at the time credit is granted
This paper considers the role of policies that protect consumers from aggressive debt collection tactics.