IU Professor Appointed to Consumer Council

Posted: Updated:
Michael Baye Michael Baye

A professor of business economics from the Indiana University Kelley School of Business has been appointed to the Consumer Financial Protection Bureau’s Academic Research Council.  In that role, Michael Baye will advise CFPB leaders.

This bureau is a U.S. government agency that makes sure banks, lenders, and other financial companies are treating consumers fairly.

During this two-year appointment will serve as an advisor, assisting the bureau in its strategic research planning process and research agenda. He will also provide feedback on research methodologies and analysis.

The IU professor and his colleagues on the ARC will not have any formal decision-making roles.

Baye said his academic and practical experience in economics should help the bureau conduct policy analysis to ensure that well-intentioned policies designed to protect consumers do not have adverse, unintended consequences.

“I prefer to solve real-world rather than hypothetical problems, and these experiences are all about the real world. Staff at the FTC (Federal Trade Commission) and CFPB are highly knowledgeable about real-world economic institutions, and it is great to have an opportunity to learn from smart people who deal with real-world problems on a daily basis,” said Baye. 

Baye previously served in Washington, D.C. as director of the Bureau of Economics at the FTC.

“When I returned from the FTC, my students really enjoyed learning first-hand about current policy issues. I was also able to share useful information with colleagues,” Baye said. “The value of that knowledge has depreciated over the past decade, and it will be good to have fresh insights to share.

The Consumer Finance Protection Bureau was created in 2010.

  • Perspectives

    • What’s Your Biggest Waste of Money?

      Americans are in the age of reducing waste. There’s a big push to purchase sustainable products, reduce our usage of plastics, and recycle. But has this trend carried over to our personal finances?  Not really.  In a study by The Ascent, the financial expertise arm of The Motley Fool, more than 60 percent of respondents felt they have wasteful financial tendencies. Why is that?



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • The IU School of Informatics, Computing and Engineering will now be named for Fred Luddy for his $60M gift. (photo courtesy James Brosher/IU)

      $60M Gift to IU, Second Largest in School History

      An Indiana University alumnus who founded the information technology firm, ServiceNow, has given his alma mater $60 million to establish an artificial intelligence center. The university says the gift from cloud-computing pioneer Fred Luddy is the second largest in the history of the IU.

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • Who Pays Debts After Death?

      If you have a mortgage on your house, what happens when you die?  What about a car lease or credit card debt?  Are your heirs required to pay off what you owe? What is the financial legacy that you will leave behind?  Your legacy could be the bequest of property or money, but it could also mean inheriting debt. It’s not uncommon for spouses or others to get bombarded with collection calls from creditors asking to pay the bills of a family member who has died.

    • POET ethanol co. announced in Aug 2019 it was closing the plant in Cloverdale. (photo courtesy: POET)

      Cloverdale Ethanol Plant Closes

      South Dakota-based POET LLC, the nation’s largest biofuels producer, is moving forward with a plan to shut down its biorefining plant in Cloverdale, leaving 50 Hoosiers without jobs effective Friday. The company tells Inside INdiana Business that it is not making any changes to the plans announced two months ago. 

    • Photo courtesy of Cummins

      Cummins Names Kennedy VP of Product Compliance

      Columbus-based Cummins Inc. (NYSE: CMI) has named Melina Kennedy vice president of product compliance and regulatory affairs. In the newly-created role, Kennedy will oversee engine emission certification, product compliance, and regulations related to Cummins products.