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Plenary 900 munz
Plenary 900 munz
Plenary 900 munz
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Plenary 900 munz

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  1. OCTOBER 2013 The next face of finance DAN MUNZ CONSUMER FINANCIAL PROTECTION BUREAU Note: This document was used in support of a live discussion. As such, it does not necessarily express the entirety of that discussion nor the relative emphasis of topics therein.
  2. @dan_munz @CFPB
  3. A bit of background
  4. “It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street–and the mortgage won’t even carry a disclosure of that fact to the homeowner.” Unsafe at Any Rate Summer 2007
  5. DISCLAIMER This is much more complicated than I’m making it out to be.
  6. http://upload.wikimedia.org/wikipedia/commons/d/d5/Subprime_Mortgage_Offer.jpeg
  7. http://news.consumerreports.org/a/6a00d83451e0d569e20120a66bf125970c-800wi
  8. JULY 2010
  9. JULY 2011
  10. JULY 2012
  11. (Re-)designing disclosure
  12. GOOD FAITH ESTIMATE TRUTH IN LENDING DISCLOSURE
  13. GOOD FAITH ESTIMATE TRUTH IN LENDING DISCLOSURE
  14. Work for the government Work for the government Too late!
  15. MMOMDD (Massively Multiplayer Online Mortgage Disclosure Design)
  16. CFPB LOAN ESTIMATE
  17. Lessons learned
  18. CFPB TILA-RESPA Mortgage Disclosure Integration Project
  19. Lesson 1: Building a shared story invites new input from different perspectives.
  20. WWIC “Why wasn’t I consulted?”
  21. ’Why wasn't I consulted’ is the fundamental question of the web. Humans have a fundamental need to be consulted, engaged, to exercise their knowledge (and thus power), and no other medium that came before has been able to tap into that as effectively. PAUL FORD, JANUARY 2011
  22. just getting over recent changes + money on the line + the Internet = WWIC
  23. Ken Perry BROKERKNOWLEDGE.COM
  24. I need you to go on there and comment about what you like and dislike about this form. If you guys don’t comment, then when it does get released, you have no right to complain. KEN PERRY, JUNE 2011
  25. Lesson 2: A truly open process creates the space to design successfully.
  26. SELF-SUSTAINING COLLABORATION ASK FOR INPUT (AND MEAN IT) BUILD PROCESS REFINE BASED ON INPUT “THEY’RE LISTENING TO US!” “LET’S DO IT AGAIN!”
  27. Lesson 3: Designing in the open can be habit-forming.
  28. Re-designing student debt
  29. consumerfinance.gov/jobs
  30. Thanks! daniel.munz@cfpb.gov @dan_munz

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