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Summary

Bryce Stephens has deep expertise in compliance with consumer financial protection laws and regulations. He is an expert in large-scale data construction and analysis, economic and statistical analysis, and statistical sampling. He has worked on a variety of engagements involving fraud and breach of contract in adherence to mortgage underwriting standards and fair lending and fair housing compliance.      Dr. Stephens' work in fair lending and fair housing includes advising on regulatory expectations, briefing on policy developments, conducting statistical analysis to identify potential fair lending and fair housing risks, supporting clients under investigation, preparing for potential litigation, and responding to regulatory in-reach.

Prior to joining Bates White, Dr. Stephens served as a Section Chief in the Office of Research at the Consumer Financial Protection Bureau. There, he conducted fair lending analysis of consumer loan products in the context of supervisory examinations and enforcement actions. He advised on the technical aspects and strategic direction of fair lending-related rulemakings and policy initiatives, including the Home Mortgage Disclosure Act (HMDA), small business lending data collection (as required by Section 1071 of the Dodd-Frank Act), and the Bureau’s efforts to curb the practice of dealer markup in auto lending. He also served as a subject matter expert on technical and compliance issues related to the use of alternative data and machine learning models.

Education

PhD, Economics, University of Maryland, College Park

MA, Economics, Miami University

BS, Business and Economics, Miami University (magna cum laude)

Practices

Selected Work

Selected Experience

  • Provided economic research, econometric analysis, and advisory services, with a specific focus on issues related to regulatory compliance with consumer financial protection laws, including the Equal Credit and Opportunity Act, and algorithmic fairness.
  • Provided economic analysis and advised clients—federal regulators, federal law enforcement agencies, Government Sponsored Enterprises, major banks, lenders, credit card issuers, healthcare service providers, insurers, and payment processors—on compliance with applicable federal and state anti-discrimination laws.
  • Conducted fair lending risk analysis of auto, mortgage, and other consumer loan products in the context of supervisory examinations and enforcement investigations.
  • Advised on technical aspects and strategic direction of fair lending-related policy initiatives and rulemakings, including the Home Mortgage Disclosure Act and small business lending data collection (as require by Section 1071 of the Dodd-Frank Act).
  • Led and oversaw qualitative and quantitative research on analytical methods and development of data infrastructure related to fair lending risk assessment. Managed the development of the Bayesian Improved Surname Geocoding (BISG) methodology used to proxy race and national origin; co-authored white paper describing and assessing the BISG methodology; developed econometric models that rely on the proxy.
  • On behalf of a financial guaranty insurance provider, conducted statistical sampling of loans from a securitized pool of home mortgages. Constructed estimates of population characteristics based on sampled loans for analysis of allegations of breach of contract and fraud in the representations and warranties of the standards to which mortgages were underwritten.

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