Plenary 900 munz
-
Upload
bentleyduc -
Category
Economy & Finance
-
view
299 -
download
1
Transcript of Plenary 900 munz
![Page 1: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/1.jpg)
The next face of finance DAN MUNZ CONSUMER FINANCIAL PROTECTION BUREAU
OCTOBER 2013
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.
![Page 2: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/2.jpg)
@dan_munz
@CFPB
![Page 3: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/3.jpg)
A bit of background
![Page 4: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/4.jpg)
“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
![Page 5: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/5.jpg)
This is much more complicated than I’m making it out to be.
DISCLAIMER
![Page 6: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/6.jpg)
![Page 7: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/7.jpg)
http://upload.wikimedia.org/wikipedia/commons/d/d5/Subprime_Mortgage_Offer.jpeg
![Page 8: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/8.jpg)
![Page 9: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/9.jpg)
![Page 10: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/10.jpg)
http://news.consumerreports.org/a/6a00d83451e0d569e20120a66bf125970c-800wi
![Page 11: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/11.jpg)
JULY 2010
![Page 12: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/12.jpg)
JULY 2011
![Page 13: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/13.jpg)
JULY 2012
![Page 14: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/14.jpg)
![Page 15: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/15.jpg)
(Re-)designing
disclosure
![Page 16: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/16.jpg)
![Page 17: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/17.jpg)
TRUTH IN LENDING DISCLOSURE
GOOD FAITH ESTIMATE
![Page 18: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/18.jpg)
![Page 19: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/19.jpg)
TRUTH IN LENDING DISCLOSURE
GOOD FAITH ESTIMATE
![Page 20: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/20.jpg)
![Page 21: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/21.jpg)
![Page 22: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/22.jpg)
Too late!
Work for the government
Work for the government
![Page 23: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/23.jpg)
![Page 24: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/24.jpg)
![Page 25: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/25.jpg)
![Page 26: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/26.jpg)
MMOMDD
(Massively Multiplayer Online Mortgage Disclosure Design)
![Page 27: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/27.jpg)
![Page 28: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/28.jpg)
![Page 29: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/29.jpg)
CFPB LOAN ESTIMATE
![Page 30: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/30.jpg)
Lessons learned
![Page 31: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/31.jpg)
![Page 32: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/32.jpg)
![Page 33: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/33.jpg)
![Page 34: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/34.jpg)
CFPB TILA-RESPA Mortgage Disclosure Integration Project
![Page 35: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/35.jpg)
![Page 36: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/36.jpg)
![Page 37: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/37.jpg)
![Page 38: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/38.jpg)
![Page 39: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/39.jpg)
![Page 40: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/40.jpg)
![Page 41: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/41.jpg)
![Page 42: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/42.jpg)
![Page 43: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/43.jpg)
![Page 44: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/44.jpg)
![Page 45: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/45.jpg)
Lesson 1:
Building a shared story invites new input from
different perspectives.
![Page 46: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/46.jpg)
![Page 47: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/47.jpg)
![Page 48: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/48.jpg)
![Page 49: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/49.jpg)
WWIC
“Why wasn’t I consulted?”
![Page 50: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/50.jpg)
![Page 51: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/51.jpg)
’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
![Page 52: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/52.jpg)
![Page 53: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/53.jpg)
![Page 54: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/54.jpg)
just getting over recent changes +
money on the line +
the Internet =
WWIC
![Page 55: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/55.jpg)
![Page 56: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/56.jpg)
![Page 57: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/57.jpg)
![Page 58: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/58.jpg)
![Page 59: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/59.jpg)
![Page 60: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/60.jpg)
![Page 61: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/61.jpg)
![Page 62: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/62.jpg)
![Page 63: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/63.jpg)
![Page 64: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/64.jpg)
Ken Perry BROKERKNOWLEDGE.COM
![Page 65: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/65.jpg)
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
![Page 66: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/66.jpg)
Lesson 2:
A truly open process creates the space
to design successfully.
![Page 67: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/67.jpg)
![Page 68: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/68.jpg)
![Page 69: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/69.jpg)
![Page 70: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/70.jpg)
![Page 71: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/71.jpg)
![Page 72: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/72.jpg)
![Page 73: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/73.jpg)
![Page 74: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/74.jpg)
![Page 75: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/75.jpg)
![Page 76: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/76.jpg)
“THEY’RE LISTENING
TO US!”
“LET’S DO IT AGAIN!”
ASK FOR INPUT (AND MEAN IT)
BUILD PROCESS
REFINE BASED ON INPUT
SELF-SUSTAINING COLLABORATION
![Page 77: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/77.jpg)
Lesson 3:
Designing in the open can be habit-forming.
![Page 78: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/78.jpg)
Re-designing student debt
![Page 79: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/79.jpg)
![Page 80: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/80.jpg)
![Page 81: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/81.jpg)
![Page 82: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/82.jpg)
![Page 83: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/83.jpg)
![Page 84: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/84.jpg)
![Page 85: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/85.jpg)
![Page 86: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/86.jpg)
![Page 87: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/87.jpg)
![Page 88: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/88.jpg)
![Page 89: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/89.jpg)
![Page 90: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/90.jpg)
![Page 91: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/91.jpg)
![Page 92: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/92.jpg)
![Page 93: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/93.jpg)
consumerfinance.gov/jobs
![Page 94: Plenary 900 munz](https://reader036.fdocuments.in/reader036/viewer/2022062512/55491264b4c9055d458bf864/html5/thumbnails/94.jpg)
Thanks! [email protected] @dan_munz