Consumer Protection Law Commons^™

Banking-As-A-Service: Fintechs Walking The Regulatory Perimeter

Brooklyn Journal of Corporate, Financial & Commercial Law

Financial technology (fintech) has ushered into today’s financial markets a wave of innovations that have revolutionized the way financial services are rendered and consumed. One such transformation is Banking-as-a-Service (BaaS): a partnership model through which nonbank businesses offer federally regulated banking products directly to consumers. By disintermediating the banking value chain, BaaS is democratizing access to financial services and lowering barriers to entry for many unbanked and underbanked individuals. These initiatives bring with them a number of concerns—such as data privacy risks, new forms of surveillance and discrimination, and economic instability—that are augmented by a systemic deficiency in regulators’ ability …

Defending Junk-Debt-Buyer Lawsuits, Peter Holland

Faculty Scholarship

Junk debt buyer lawsuits have overwhelmed the courts all across the United States. These lawsuits wreak havoc on consumers and their families. Often overlooked is the fact that judgments against consumers which are based on junk debt are part of a zero sum game, where every bogus judgment deprives a legitimate creditor of the chance to get paid from scarce resources. Thus, the legitimate creditor to whom money is owed is materially harmed by the junk debt buyer who extracts money based on an illegitimate claim, or who causes someone to declare bankruptcy. Providing representation to this otherwise unrepresented population …

The Psychological Impacts Of Algorithmic And Ai-Driven Social Media On Teenagers: A Call To Action, John Hastings, Sunil Arora, Sahil Arora

Research & Publications

This study investigates the meta-issues surrounding social media, which, while theoretically designed to enhance social interactions and improve our social lives by facilitating the sharing of personal experiences and life events, often results in adverse psychological impacts. Our investigation reveals a paradoxical outcome: rather than fostering closer relationships and improving social lives, the algorithms and structures that underlie social media platforms inadvertently contribute to a profound psychological impact on individuals, influencing them in unforeseen ways. This phenomenon is particularly pronounced among teenagers, who are disproportionately affected by curated online personas, peer pressure to present a perfect digital image, and the …

Judges And The Deregulation Of The Lawyer's Monopoly, Jessica Steinberg, Colleen Shanahan, Alyx Mark, Anna Carpenter

Faculty Scholarship

In a revolutionary moment for the legal profession, the deregulation of legal services is taking hold in many parts of the country. Utah and Arizona, for instance, are experimenting with new regulations that permit nonlawyer advocates to play an active role in assisting citizens who may not otherwise have access to legal services. In addition, amendments to the Rules of Professional Conduct in both states, as well as those being contemplated in California, now allow nonlawyers to have a partnership stake in law firms, which may dramatically change the way capital for the delivery of legal services is raised as …

Prostitution Policy: Legalization, Decriminalization And The Nordic Model

Seattle Journal for Social Justice

No abstract provided.

The False Choice Between Digital Regulation And Innovation

Northwestern University Law Review

This Article challenges the common view that more stringent regulation of the digital economy inevitably compromises innovation and undermines technological progress. This view, vigorously advocated by the tech industry, has shaped the public discourse in the United States, where the country’s thriving tech economy is often associated with a staunch commitment to free markets. U.S. lawmakers have also traditionally embraced this perspective, which explains their hesitancy to regulate the tech industry to date. The European Union has chosen another path, regulating the digital economy with stringent data privacy, antitrust, content moderation, and other digital regulations designed to shape the evolution …

Regulating Social Media In The Global South

Vanderbilt Journal of Entertainment & Technology Law

In recent years, the disinformation crisis has made regulating social media platforms a necessity. The consequences of disinformation campaigns are not only limited to election interferences or political debates, but have also included fatal consequences. In response, scholars have generally focused on regulating social media companies in the United States without paying much attention to these companies’ global impact, particularly in the Global South. Lost in the quest to fight disinformation is addressing the social media companies’ neglect of consumer rights in the Global South.

Countries in the Global North, such as the United States, have the power to regulate …

The Ethics Of Exploitation: How Social Media Profits From Attention, Addiction, And Data Manipulation, Laeila Scott

NSU Undergraduate Law Journal

The pervasive influence of social media platforms extends far beyond digital interaction, shaping human behavior, manipulating democratic processes, and exploiting user data with minimal oversight. Through the attention economy, these platforms employ algorithms designed to maximize engagement at the expense of users’ autonomy, fostering addiction and cognitive dependency. Manipulative terms and conditions further entrench corporate control, binding users to contracts with the very companies that obscure the extent of data collection and limit legal recourse. The Cambridge Analytica scandal laid bare the dangers of unregulated data harvesting, demonstrating how personal information can be weaponized for political and economic gain.

Beyond …

Made In America, Hidden By Ai: Ai Shopping Chatbots Reveal How Amazon And Walmart Hurt American Manufacturers And Deceive Shoppers, Erie Meyer, Zachary Harris

Center for Law and the Economy

This article investigates the capabilities of two AI shopping agents — Alexa for Shopping and Sparky, operated by Amazon and Walmart respectively — to identify country of origin for products on their respective platforms and flag potential “Made in USA” misrepresentations — where products with “Made in USA” in their title or listing have another country or “imported” listed as their country of origin. This article finds that (1) Amazon and Walmart have the technical capability to detect and flag “Made in USA” fraud; (2) “Made in USA” fraud appears to be common on both Amazon and Walmart; (3) Amazon …

Regulating A Revolution: From Regulatory Sandboxes To Smart Regulation, Ross Buckley

Fordham Journal of Corporate & Financial Law

Prior to the global financial crisis, financial innovation was viewed very positively, resulting in a laissez-faire, deregulatory approach to financial regulation. Since the crisis the regulatory pendulum has swung to the other extreme. Post-crisis regulation, plus rapid technological change, have spurred the development of financial technology (FinTech). FinTech firms and data-driven financial service providers profoundly challenge the current regulatory paradigm. Financial regulators increasingly seek to balance the traditional regulatory objectives of financial stability and consumer protection with promoting growth and innovation. The resulting regulatory innovations include RegTech, regulatory sandboxes, and special charters. This Article analyzes possible new regulatory approaches, ranging …