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Full-Text Articles in Law
Helping Buyers Beware: The Need For Supervision Of Big Retail, Rory Van Loo
Helping Buyers Beware: The Need For Supervision Of Big Retail, Rory Van Loo
Faculty Scholarship
Since the financial crisis, consumer regulators have closely supervised sellers of credit cards and home mortgages to stamp out anticompetitive practices. Supervision programs give financial regulators ongoing access to sophisticated firms' internal data outside the litigation process. This often enables examiners to identify and correct harmful conduct more rapidly and effectively than would be possible using publicly available information and cumbersome legal tools.
Consumers spend four times more on retail goods than on financial products. The retail sector’s dominant firms — such as Amazon, Walmart, Unilever, and Kraft — employ large teams of quantitative experts armed with advanced information technologies, …
Putting Disclosure To The Test: Toward Better Evidence-Based Policy, Talia B. Gillis
Putting Disclosure To The Test: Toward Better Evidence-Based Policy, Talia B. Gillis
Faculty Scholarship
Financial disclosures no longer enjoy the immunity from criticism they once had. While disclosures remain the hallmark of numerous areas of regulation, there is increasing skepticism as to whether disclosures are understood by consumers and do in fact improve consumer welfare. Debates on the virtues of disclosures overlook the process by which regulators continue to mandate disclosures. This article fills this gap by analyzing the testing of proposed disclosures, which is an increasingly popular way for regulators to establish the benefits of disclosure. If the testing methodology is misguided then the premise on which disclosures are adopted is flawed, leaving …