Update: CFPB's speaker will be Peggy Twohig, Assistant Director, Office of Supervision Policy.
U.S. PIRG Education Fund and the Center for Digital Democracy are excited to announce that Professor Frank Pasquale (University of Maryland Law School) will discuss his new book “The Black Box Society: The Secret Algorithms That Control Money and Information.” (Harvard University Press, January 2015)
Seminar: Looking Inside The Black Box Society
Save the Date! Monday 11 May, 9AM-12 PM Noon, (the event is free and open to the public but an RSVP is required to attend in person (due to space limitations). A livestream link will be provided to those who RSVP for the livestream only).
Following Professor Pasquale’s presentation, panels of civil society and government experts will discuss the implications of his findings for economic and employment opportunity.
The event will be open to the media and public and will be live web-streamed.
Looking Inside The Black Box Society: 9:00-noon, Monday, 11 May
Where: Public Citizen, 1600 20th St NW, Washington, DC 20009 (Google Map). The event is free and open to the public but requires an RSVP (http://bit.ly/1FAvSBj). Livestream will be available. Please RSVP for “Livestream only” option.
9:00-9:30 AM Registration and Coffee
9:30-10:00 AM Keynote Address and Commentary by Professor Frank Pasquale, author, “The Black Box Society” (Harvard University Press 2015)
10:00-11:00 AM Panel 1: Empowering Citizens and Consumers in the Digitally Data-Driven Financial Services Era: What new policies and practices are required to protect economically vulnerable consumers? Professor Pasquale will be joined by advocates for a discussion of the impact of the Black Box on economic opportunity and possible reform policies.
- Sarah Ludwig, co-director, New Economy Project-NYC (formerly NEDAP). Sarah was a leader in the recent campaign to win a ban on the use of credit reports for employment purposes at the NY City Council. (confirmed).
11:00-12 Noon: Panel 2: What do policymakers need to do to “open” up and make accountable the “Black Box?”
- Jessica Rich, Director, FTC Bureau of Consumer Protection (confirmed). The FTC BCP has issued recent reports on privacy and data brokers, has held a series of its own workshops on privacy, data and potential discrimination and has conducted enforcement actions against firms using digital data tools without complying with applicable consumer protection laws.
- Peggy Twohig, Assistant Director, Office of Supervision Policy (confirmed). The CFPB has issued reports (latest, May 2015) on the credit reporting industry and, under authority granted by Congress, since fall 2012 has supervised (examined) the activities of larger participants in credit reporting markets (essentially, examination authority gives CFPB the right to look inside the black box).
About the USPIRG Education Fund and Center for Digital Democracy Project on “Data and Consumer Protection: Ensuring a Fair and Equitable Financial Marketplace:” (PROJECT HOME PAGE)
“Looking Inside the Black Box Society” is one in a series of events hosted by USPIRG Education Fund and CDD to promote needed discussion of the impact of the digital marketplace on economic opportunity. The project has also authored path-breaking research, including the Suffolk University Law Review article “Selling Consumers, Not Lists" and the report “Big Data Means Big Opportunities and Big Challenges: Promoting Financial Inclusion and Consumer Protection in the “Big Data” Financial Era.” The project home page has links to more reports and case studies, including several recent reports explaining online lead generation.
USPIRG Education Fund and CDD acknowledge the support of the Ford Foundation, the Annie E. Casey Foundation, the Rose Foundation for Communities and the Environment and the Digital Trust Foundation for support of our research and education work on data and financial opportunity. We thank them for their support but acknowledge that the work, events, reports and investigations are those of the authors and organizations alone, and do not necessarily reflect the opinions of the Foundations. We also thank Public Citizen for the venue.