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Full-Text Articles in Law
Opening Schumer’S Box: The Empirical Foundations Of Modern Consumer Finance Disclosure Law, Hosea H. Harvey
Opening Schumer’S Box: The Empirical Foundations Of Modern Consumer Finance Disclosure Law, Hosea H. Harvey
University of Michigan Journal of Law Reform
This Article explores the fundamental failure of Congress’ twenty-five-year quest to utilize disclosure as the primary tool to both regulate credit card issuers and educate consumers. From inception until present, reforms to this disclosure regime, even when premised on judgment and decision-making behavioralism, were nomothetic in orientation and ignored clear differences in population behavior and the heterogeniety of consumers. Current law prohibits credit card issuers from acquiring consumer socio-demographic data and prevents issuers and regulators from using market and policy experimentation to enhance disclosure’s efficacy. To explain why this regime was structured this way and why it must change, this …
The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner
The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner
University of Michigan Journal of Law Reform
This article will review the factors leading to the Miller decision and the legislative response to that decision. Part I will examine the bank customer's expectation of privacy and the way Miller affects this expectation. Part II will discuss the congressional response to Miller and the competing interests which led to the Right to Financial Privacy Act. The Act itself will be discussed in detail in Part III. Part IV will evaluate the Act, and offer recommendations for reform. The article concludes that the Act, by adopting a purely procedural approach, fails to provide adequate protection to bank customers.