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Articles 1 - 30 of 39
Full-Text Articles in Law
Revising The Vertical Merger Guidelines (Ftc Hearings), Steven C. Salop
Revising The Vertical Merger Guidelines (Ftc Hearings), Steven C. Salop
Georgetown Law Faculty Publications and Other Works
This slide deck was the author’s presentation at the FTC Hearings on Vertical Mergers (November 1, 2018). The deck sets out a summary of the author’s economic analysis and proposed revisions to the U.S. Vertical Merger Guidelines.
Consumer Protection, Matthew J. Mcgowan
Consumer Protection, Matthew J. Mcgowan
Student Scholarship
The Texas Deceptive Trade Practices-Consumer Protection Act (DTPA)1 focuses on consumer harm brought about through deception.2 This article covers significant developments under the DTPA during the Survey period, December 1, 2016, through November 31, 2017.
Some of the salient changes to the DTPA came through statutory additions inserted by the 85th Texas Legislature during the Summer 2017 session, which added to the DTPA’s laundry list of violative acts and also amended the Texas Insurance Code such that related DTPA claims may be more easily removed to federal court. Also, case law developments have, among other things, revealed that certain DTPA …
The California Consumer Privacy Act Of 2018: Are Your Interests At Stake?, Katie Christensen
The California Consumer Privacy Act Of 2018: Are Your Interests At Stake?, Katie Christensen
GGU Law Review Blog
California residents and those who do business in California are advised to stay abreast of the California Consumer Privacy Act, as there may be major textual revisions – or Federal pre-emption – before the act goes into effect on January 1, 2020.
What's The Big Hurry? The Urgency Of Data Breach Notification, Ellen Cornelius
What's The Big Hurry? The Urgency Of Data Breach Notification, Ellen Cornelius
Homeland Security Publications
No abstract provided.
Economic Rationality And Ethical Values In Design-Defect Analysis: The Trolley Problem And Autonomous Vehicles, W. Bradley Wendel
Economic Rationality And Ethical Values In Design-Defect Analysis: The Trolley Problem And Autonomous Vehicles, W. Bradley Wendel
Cornell Law Faculty Publications
The trolley problem is a well-known thought experiment in moral philosophy, used to explore issues such as rights, deontological reasons, and intention and the doctrine of double effect. Recently it has featured prominently in popular discussions of decision making by autonomous vehicle systems. For example, a Mercedes-Benz executive stated that, if faced with the choice between running over a child that had unexpectedly darted into the road and steering suddenly, causing a rollover accident that would kill the driver, an automated Mercedes would opt to kill the child. This paper considers not the ethical issues raised by such dilemmas, but …
The Content Of Consumer Law Classes Iii, Jeff Sovern
The Content Of Consumer Law Classes Iii, Jeff Sovern
Faculty Publications
This paper reports on a 2018 survey of law professors teaching consumer protection, and follows up on similar 2010 and 2008 surveys, which appeared in Jeff Sovern, The Content of Consumer Law Classes II, 14 J. Consumer & Commercial L. 16 (No. 1 2010), at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1657624 and Jeff Sovern, The Content of Consumer Law Classes, 12 J. Consumer & Commercial L. 48 (No. 1 2008), at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1139894, respectively. As reported in previous surveys, professors teaching consumer law report considerable variation in coverage. Professors want to cover relatively current subjects within their courses, such as FinTech, credit invisibles, and mortgage …
Shadowing Lenders And Consumers: The Rise, Regulation, And Risks Of Non-Banks, Shelby D. Green
Shadowing Lenders And Consumers: The Rise, Regulation, And Risks Of Non-Banks, Shelby D. Green
Elisabeth Haub School of Law Faculty Publications
Since the financial crisis of 2008, “shadow banking” or financial transactions by “non-banks,” has skyrocketed. Non-banks are not depositary institutions and as such, they roam free, largely outside the purview of the bank regulators. They occupy all parts of the credit markets, from mortgage loan origination to payday lenders. Untethered, they operate without government guarantees, such as deposit insurance and have no access to emergency government lending facilities, such as the Federal Reserve's discount window.
There are both positives and negatives in the rise of non-banks. On the positive side is market liquidity and greater diversity of funding sources for …
Trademark's Judicial De-Evolution: Why Courts Get Trademark Cases Wrong Repeatedly, Glynn Lunney
Trademark's Judicial De-Evolution: Why Courts Get Trademark Cases Wrong Repeatedly, Glynn Lunney
Faculty Scholarship
Trademark law has de-evolved. It has transitioned from an efficient mechanism for ensuring competition into an inefficient regime for capturing economic rents. In this Article, I focus on the role that party self-interest has played in biasing the evolution of trademark law. This self-interest tends to lead parties to (1) challenge efficient legal rules and seek to replace them with inefficient, anticompetitive rules, and (2) accede to inefficient, anticompetitive rules once they are in place. Almost by definition, when a rule of trademark law promotes competition, it reduces the market surplus or rents that current producers capture. As a result, …
The Salience Theory Of Consumer Financial Regulation, Natasha Sarin
The Salience Theory Of Consumer Financial Regulation, Natasha Sarin
All Faculty Scholarship
Prior to the financial crisis, banks’ fee income was their fastest-growing source of revenue. This revenue was often generated through nefarious bank practices (e.g., ordering overdraft transactions for maximal fees). The crisis focused popular attention on the extent to which current regulatory tools failed consumers in these markets, and policymakers responded: A new Consumer Financial Protection Bureau was tasked with monitoring consumer finance products, and some of the earliest post-crisis financial reforms sought to lower consumer costs. This Article is the first to empirically evaluate the success of the consumer finance reform agenda by considering three recent price regulations: a …
Forum Selection Clauses And Consumer Contracts In Canada, Tanya Monestier
Forum Selection Clauses And Consumer Contracts In Canada, Tanya Monestier
Law Faculty Scholarship
No abstract provided.
One Man’S Tale Of Resisting The Seducing Spa Sirens Of Singapore, Gary Low
One Man’S Tale Of Resisting The Seducing Spa Sirens Of Singapore, Gary Low
Research Collection Yong Pung How School Of Law
Why do people give in to pressure selling in the slimming and beauty industry? One consumer lawprofessor explores the dazzling experience of stepping into a spa.
Technology Regulation By Default: Platforms, Privacy, And The Cfpb, Rory Van Loo
Technology Regulation By Default: Platforms, Privacy, And The Cfpb, Rory Van Loo
Faculty Scholarship
In the absence of a technology-focused regulator, diverse administrative agencies have been forced to develop regulatory models for governing their sphere of the data economy. These largely uncoordinated efforts offer a laboratory of regulatory experimentation on governance architecture. This symposium essay explores what the Consumer Financial Protection Bureau (CFPB) has done in its first several years to regulate financial technology (“fintech”), in the context of broader technology-related concerns identified in the literature. It begins with a survey of what the CFPB has undertaken using more traditional administrative agency tools—enforcement and rulemaking—in areas such as privacy, consumer control over data, and …
Letter To The Hon. Sen. Orrt (Nys Senate) Regarding Litigation Finance (Lawsuit Lending) (2018), Maya Steinitz
Letter To The Hon. Sen. Orrt (Nys Senate) Regarding Litigation Finance (Lawsuit Lending) (2018), Maya Steinitz
Faculty Scholarship
Following testimony to the New York State Senate's Standing Committee on Consumer Protection (available on SSRN and YouTube), Professor Steinitz was asked to elaborate on her recommendation for a statutory minimum recovery requirement to protect consumers of litigation financing. Enclosed is her response to this inquiry.
Behavioral Finance Symposium Summary Paper, Michael S. Barr, Annabel Jouard, Andrew Norwich, Josh Wright, Katy Davis
Behavioral Finance Symposium Summary Paper, Michael S. Barr, Annabel Jouard, Andrew Norwich, Josh Wright, Katy Davis
Other Publications
On September 14-15, 2017, the University of Michigan’s Center on Finance, Law, and Policy and behavioral science research and design lab ideas42 brought together influential leaders from academia, government, nonprofits and the financial sector for a two-day symposium on behavioral finance. Behavioral finance is the study of how behavioral biases and tendencies affect financial decisions, and in turn how those impact financial markets.
Consumer Bitcredit And Fintech Lending, Christopher K. Odinet
Consumer Bitcredit And Fintech Lending, Christopher K. Odinet
Faculty Scholarship
The digital economy is changing everything, including how we borrow money. In the wake of the 2008 crisis, banks pulled back in their lending and, as a result, many consumers and small businesses found themselves unable to access credit. A wave of online firms called fintech lenders have filled the space left vacant by traditional financial institutions. These platforms are fast making antiques out of many mainstream lending practices, such as long paper applications and face-to-face meetings. Instead, through underwriting by automation — utilizing big data (including social media data) and machine learning — loan processing that once took days …
Consumers, Sellers-Advisors, And The Psychology Of Trust, Kelli Alces Williams, Justin Sevier
Consumers, Sellers-Advisors, And The Psychology Of Trust, Kelli Alces Williams, Justin Sevier
Scholarly Publications
Every day, consumers ask sellers for advice. Because they do not or cannot know better, consumers rely on that advice in making financial decisions of varying significance. Sellers, motivated by strong and often conflicting self-interests, are well-positioned to lead consumers to make decisions that are profitable for sellers and may be harmful to the consumers themselves. Short of imposing fraud liability in extreme situations, the law neither protects the trust consumers place in “seller-advisors,” nor alerts them to the incentives motivating the advice that sellers give. This Article makes several contributions to the literature. First, it identifies and defines the …
The Future Is Mobile: Financial Inclusion And Technological Innovation In The Emerging World, Eleanor Lumsden
The Future Is Mobile: Financial Inclusion And Technological Innovation In The Emerging World, Eleanor Lumsden
Publications
The digital revolution is in full bloom and technology is being used to solve the world’s most challenging problems, yet traditional banking excludes many of the world’s poorest from taking advantage of the full fruits of the financial system. Especially in developing countries, implementing mobile financial systems can speed financial inclusion and spur economic growth. There is space for regulatory reform that addresses concerns with data security and consumer privacy yet does not stifle innovation. Throughout history, resistance to innovation has generally proved futile, and countries that refuse to change risk missing opportunities.
Gender, Race & The Inadequate Regulation Of Cosmetics, Marie C. Boyd
Gender, Race & The Inadequate Regulation Of Cosmetics, Marie C. Boyd
Faculty Publications
Scholars and other commentators have identified failures in the regulation of cosmetics-which depends heavily on voluntary industry self- regulation-and called for more stringent regulation of these products. Yet these calls have largely neglected an important dimension of the problem: the current laissez-faire approach to the regulation of cosmetics disproportionally places women, and particularly women who are members of other excluded groups, at risk. This Article examines federal cosmetics law and regulation through a feminist lens. It argues that cosmetics law and regulation have lagged behind that of the other major product categories regulated by the Food and Drug Administration under …
Sexual Privacy, Danielle Keats Citron
Sexual Privacy, Danielle Keats Citron
Faculty Scholarship
Those who wish to control and expose the identities of women and people from marginalized communities routinely do so by invading their privacy. People are secretly recorded in bedrooms and public bathrooms, and “up their skirts.” They are coerced into sharing nude photographs and filming sex acts under the threat of public disclosure of their nude images. People’s nude images are posted online without permission. Machine-learning technology is used to create digitally manipulated “deep fake” sex videos that swap people’s faces into pornography.
At the heart of these abuses is an invasion of sexual privacy—the behaviors and expectations that manage …
Banks That Collect Debt On Their Own Account Are Not Debt Collectors Under The Fdcpa, Antonia Edwards
Banks That Collect Debt On Their Own Account Are Not Debt Collectors Under The Fdcpa, Antonia Edwards
Bankruptcy Research Library
(Excerpt)
The Fair Debt Collection Practices Act (the “FDCPA”) was enacted in 1977 to stop debt collectors from engaging in unfair and deceptive practices when collecting consumer debts. The FDCPA was enacted as a response to an abundance of evidence of the use of abusive and deceptive practices by many debt collectors. Collection abuse took many different methods such as threats of violence, telephone calls at unreasonable hours, impersonation, misrepresentation of debts, and collection of information under false pretenses. These unfair practices contributed to household bankruptcies, marital instability, loss of jobs, and invasions of individual privacy. The FDCPA imposes three …
The Financial Counseling Industry: Past, Present, And Policy Recommendations, David A. Lander
The Financial Counseling Industry: Past, Present, And Policy Recommendations, David A. Lander
All Faculty Scholarship
Financial counseling plays an important role for low- and moderate-income Americans and deserves more attention from leaders in the field. As financial counseling has evolved, the providers have been challenged to find a model that is both borrower centered and sustainable. This article provides a diagnosis of the failures and challenges in the financial counseling field, as well as a discussion of steps through which the providers could optimally serve families in need. These steps include (a) enhanced funding of the industry as a result of a recognition by financial stakeholders that it would be beneficial for them if the …
Fintech: Antidote To Rent-Seeking?, Jeremy Kidd
Fintech: Antidote To Rent-Seeking?, Jeremy Kidd
Articles
Fintech is a reality of our modern society, and will likely become even more so in the future. Peer-to-peer lending, cybercurrencies, smart contracts, algorithmic lending, and more, have required adaptation by consumers and producers of financial services. Our modes of doing business will continue to be challenged and changed by these and other Fintech innovations, almost certainly expanding beyond merely “promot[ing] financial inclusion, expand[ing] access to capital for individuals and small businesses, and more broadly reshap[ing] how society interacts with financial services.” By reducing transaction costs, advancing technology opens the doors to innovations the likes of which we might not …
Commodifying Consumer Data In The Era Of The Internet Of Things, Stacy-Ann Elvy
Commodifying Consumer Data In The Era Of The Internet Of Things, Stacy-Ann Elvy
Articles & Chapters
Internet of Things (“IOT”) products generate a wealth of data about consumers that was never before widely and easily accessible to companies. Examples include biometric and health-related data, such as fingerprint patterns, heart rates and calories burned. This Article explores the connection between the types of data generated by the IOT and the financial frameworks of Article 9 of the Uniform Commercial Code and the Bankruptcy Code. It critiques these regimes, which enable the commodification of consumer data, as well as laws aimed at protecting consumer data, such as the Bankruptcy Abuse Prevention and Consumer Protection Act, various state biometric …
The Parity Principle, Luke P. Norris
The Parity Principle, Luke P. Norris
Law Faculty Publications
The Supreme Court has interpreted the Federal Arbitration Act of 1925 (FAA) in a broad way that has allowed firms to widely privatize disputes with workers and consumers. The resulting expansive growth of American arbitration law has left commentators both concerned about the structural inequalities that permeate the regime and in search of an effective limiting principle. This Article develops such a limiting principle from the text and history of the FAA itself. The Article reinterprets the text and history of section 1 of the statute, which, correctly read, excludes individual employee-employer disputes from the statute’s coverage. The Article argues …
Gag Clauses And The Right To Gripe: The Consumer Review Fairness Act Of 2016 & State Efforts To Protect Online Reviews From Contractual Censorship, Clay Calvert
UF Law Faculty Publications
This article examines new legislation, including the federal Consumer Review Fairness Act, signed into law in December 2016, targeting non-disparagement clauses in consumer contracts. Such “gag clauses” typically prohibit or punish the posting of negative reviews of businesses on websites, such as Yelp and TripAdvisor. This article asserts that state and federal statutes provide the best means, from a pro-free-expression perspective, of attacking such clauses, given the disturbingly real possibility that the First Amendment has no bearing on contractual obligations between private parties.
Crafting Next Generation Eco-Label Policy, Jason J. Czarnezki, Katrina F. Kuh
Crafting Next Generation Eco-Label Policy, Jason J. Czarnezki, Katrina F. Kuh
Elisabeth Haub School of Law Faculty Publications
Eco-labels present a promising policy tool in the effort to achieve sustainable consumption. Many questions remain, however, about the extent to which eco-labels can contribute to sustainability efforts and how to maximize their effectiveness. This Article deploys research from evolutionary psychology, behavioral law and economics, and norm theory to offer specific insights for the design and implementation of eco-labels to enhance their influence on sustainable consumer choice. Notably, this research suggests possibilities for eco-labels to shape or expand consumer preferences for green goods, and thereby enhance eco-label influence on consumer behavior by extending it beyond eco-minded consumers. We suggest that …
Look What's New - Utah's Groundbreaking Efforts To Use Online Dispute Resolution (Odr) To Increase Access To Justice, Laurel Terry
Look What's New - Utah's Groundbreaking Efforts To Use Online Dispute Resolution (Odr) To Increase Access To Justice, Laurel Terry
Faculty Scholarly Works
No abstract provided.
Improvident Student Lending, Vijay Raghavan, Joseph Sanders
Improvident Student Lending, Vijay Raghavan, Joseph Sanders
Faculty Scholarship
No abstract provided.
Ascertainability: Prose, Policy, And Process, Rhonda Wasserman
Ascertainability: Prose, Policy, And Process, Rhonda Wasserman
Articles
One of the most hotly contested issues in class action practice today is ascertainability – when and how the identities of individual class members must be ascertained. The courts of appeals are split on the issue, with courts in different circuits imposing dramatically different burdens on putative class representatives. Courts adopting a strict approach require the class representative to prove that there is an administratively feasible means of determining whether class members are part of the class. This burden may be insurmountable in consumer class actions because people tend not to save receipts for purchases of low-cost consumer goods, like …
The Gdpr’S Version Of Algorithmic Accountability, Margot Kaminski
The Gdpr’S Version Of Algorithmic Accountability, Margot Kaminski
Publications
No abstract provided.