The CFPB’s emphasis on behavioral law and economics – and politically preferable outcomes –produces inefficient, heavy-handed regulations that are inconsistent with the intent and purpose of improving consumer choices, according to a white paper by a pair of university economists. “In part, the CFPB has justified its ongoing intervention into financial credit markets based on a prior belief in the inability of consumers to competently weigh their decisions,” said Adam Smith, assistant professor of economics at Johnson & Wales University in Charlotte, NC, and Todd Zywicki, a senior scholar at the Mercatus Center at George Mason University in Fairfax, VA.