The CFPB announced earlier this week that it has appointed two new members—Ralph Bostic and Melvin Stephens—to its academic research council, which was established to guide the agency in matters of research and strategic planning.
Bostic serves as the chairman of governance and public enterprise at the Sol Price School of Public Policy at the University of Southern California, before which he served as the assistant secretary for policy development and research at the Department of Housing and Urban Development (HUD).
During his time at HUD, he was a principal advisor to the HUD secretary on policy and research, guiding the agency in policy-making and budget and legislative proposals.
Stephens is an associate professor of public policy and economics at the University of Michigan and a faculty associate at the Population Studies Center and Survey Research Center at the Institute for Social Research.
Additionally, Stephens has a bachelor’s degree in economics and mathematics from the University of Maryland and a doctorate in economics from the University of Michigan.
Bostic and Stephens join John Y. Campbell, Justine Hastings, Christine Jolls, David Libson, Antoinette Schoar and Richard H. Thaler on the council, which will meet on Friday for its annual meeting.