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Articles 1 - 8 of 8
Full-Text Articles in Law
Ripping Off Grandma And Grandpa Without Hurting The Banks Of America: Allowing The Elderly And Other Easy Prey To Pay For The Crimes Of Immoral Individuals And Institutions, Brett D. Maxfield
Brett D Maxfield
This paper looks at the abuses of the banks of America in the ways they influence the law of credit and debt collection and what can be done to reform the system.
Unauthorized Payment Transactions And Who Should Bear The Losses, Francis J. Facciolo
Unauthorized Payment Transactions And Who Should Bear The Losses, Francis J. Facciolo
Chicago-Kent Law Review
This article is concerned with how losses should be allocated between holders of accounts that are implicated in payment systems and the financial institutions that participate in the payment systems by acting as intermediaries between ac- count holders. The rules involving payment systems show a wide range of divergent approaches. In the period before a transaction is executed, some payment systems take the possible negligence of an account holder into account in allocating losses for unauthorized payment transactions. The checking system is the classic case. In contrast, the Truth-in-Lending Act and the Electronic Fund Transfer Act both ignore the negligence …
Table Of Contents - Issue 2, Chicago-Kent Law Review
Table Of Contents - Issue 2, Chicago-Kent Law Review
Chicago-Kent Law Review
No abstract provided.
A Theoretical Analysis Of Payment Systems, Ali Khan
A Theoretical Analysis Of Payment Systems, Ali Khan
Ali Khan
For over two hundred years, financial institutions have been providing payment services to transfer monies from accountholders to merchants and other payees. The market however is constantly searching for more efficient and reliable devices for institutional money transfers. Credit card and other electronic payments are, accordingly, capturing a big share of payment services over which negotiable instruments have long exercised a comfortable monopoly. This Article offers a coherent theoretical model to conceptually unify payment services delivered through old and new payment devices. The model derived from the assorted payment systems currently in use argues that the payment law must adhere …
Behaviorally Informed Financial Services Regulation, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Behaviorally Informed Financial Services Regulation, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Other Publications
Financial services decisions can have enourmous consequences for household well-being. Households need a range of financial services - to conduct basic transactions, such as receiving their income, storing it, and paying bills; to save for emergency needs and long-term goals; to access credit; and to insure against life's key risks. But the financial services system is exceedingly complicated and often not well-designed to optimize house-hold behavior. In response to the complexity of out financial system, there has been a long running debate about the appropriate role and form of regulation. Regulation is largely stuck in two competing models - disclosure, …
Developments In The Laws Affecting Electronic Payments And Stored-Value Products: A Year Of Stored-Value Bankruptcies, Significant Legislative Proposals, And Federal Enforcement Actions, Sarah Jane Hughes, Stephen T. Middlebrook, Patricia J. Allouise
Developments In The Laws Affecting Electronic Payments And Stored-Value Products: A Year Of Stored-Value Bankruptcies, Significant Legislative Proposals, And Federal Enforcement Actions, Sarah Jane Hughes, Stephen T. Middlebrook, Patricia J. Allouise
Articles by Maurer Faculty
No abstract provided.
Data Security And Tort Liability, Vincent R. Johnson
Data Security And Tort Liability, Vincent R. Johnson
Faculty Articles
Established tort principles carefully applied to the contemporary problems of cybersecurity and identity theft can perform a key role in protecting the economic foundations of modern life. Tort law offers an appropriate legal regime for allocating the risks and spreading the costs of database intrusion-related losses. It can also create incentives, on the part of both database possessors and data subjects, to minimize the harm associated with breaches of database security.
In considering this field of tort law, it is useful to differentiate three questions. The first issue is whether database possessors have a legal duty to safeguard data subjects’ …
The Debt Dilemma, Katherine Porter
The Debt Dilemma, Katherine Porter
Michigan Law Review
Part I describes the nature of credit card spending and explores the usefulness of Mann's comparative approach to studying credit cards. Part II evaluates Mann's findings on the overall relationships between individual credit card transactions and aggregate levels of spending, borrowing, and bankruptcy. It also briefly analyzes the relationship between his findings and policy recommendations. Part III explores data on families who refrain from credit card use and struggle with serious financial distress. Part IV revisits Mann's policy recommendations in light of this new data. I conclude that implementing credit card reform would offer families only partial, albeit valuable, protection …