Protecting San Francisco Residents From The Wolves Of Wall Street: A Case Study,
2018
The University of San Francisco
Protecting San Francisco Residents From The Wolves Of Wall Street: A Case Study, Jessica Lindquist
Master's Projects and Capstones
This research conducts the first deep data analysis of the public complaints filed to the Consumer Financial Protection Bureau's Consumer Complaint database by San Francisco residents. The case study highlights how consumer financial harms are a citywide problem: San Franciscans living at every income level and in every part of the city are struggling to resolve their financial issues with the wolves of Wall Street, the financial services industry. The recommendations center on what the city, particularly the San Francisco Office of Financial Empowerment, can do at a local level now that the Trump administration is focused on deregulating the …
The Cfpb’S Endaround,
2018
The Catholic University of America, Columbus School of Law
The Cfpb’S Endaround, Chris O'Brien
Catholic University Law Review
The financial crisis of 2008 led Congress to enact the Dodd-Frank Wall Street Reform and Consumer Protection Act and establish the Consumer Financial Protection Bureau (CFPB) to better protect consumers. Although Dodd-Frank and the CFPB introduced sweeping changes to many areas of financial lending, automobile dealers and financers were expressly excluded from oversight by the CFPB. Despite this express limitation on the CFPB’s authority, the Bureau nonetheless expanded its definition of “larger participants” to encompass automobile dealers and financiers. This action has resulted in duplicative regulatory oversight and increased costs to consumers, which in turn, imposes additional burdens on those …
Diamonds Aren't Always A Consumer's Best Friend: Considering The Need For Regulation In The Diamond Grading Industry,
2018
University of Georgia School of Law
Diamonds Aren't Always A Consumer's Best Friend: Considering The Need For Regulation In The Diamond Grading Industry, Hannah Ponders Feist
Georgia Journal of International & Comparative Law
No abstract provided.
Crashed Software: Assessing Product Liability For Software Defects In Automated Vehicles,
2018
Duke Law
Crashed Software: Assessing Product Liability For Software Defects In Automated Vehicles, Sunghyo Kim
Duke Law & Technology Review
Automated vehicles will not only redefine the role of drivers, but also present new challenges in assessing product liability. In light of the increased risks of software defects in automated vehicles, this Note will review the current legal and regulatory framework related to product liability and assess the challenges in addressing on-board software defects and cybersecurity breaches from both the consumer and manufacturer perspective. While manufacturers are expected to assume more responsibility for accidents as vehicles become fully automated, it can be difficult to determine the scope of liability regarding unexpected software defects. On the other hand, consumers face new …
The Ecoa And Disparate Impact Theory: A Historical Perspective,
2018
Brooklyn Law School
The Ecoa And Disparate Impact Theory: A Historical Perspective, Winnie F. Taylor
Journal of Law and Policy
The Equal Credit Opportunity Act (“ECOA”) prohibits credit discrimination because of sex, marital status, race, age, and other personal attributes. Congress enacted the ECOA in 1974 to eliminate unfair lending practices that inhibit equality in the credit industry. Recently, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) sued several automobile financiers and alleged ECOA violations in the various complaints; the resulting settlements became controversial when critics questioned the CFPB’s use of an evidentiary standard known as “disparate impact” to support its discrimination claims. While plaintiffs may use disparate impact theory to prove unintentional discrimination, they may also use another analytical …
Whose Sperm Is It Anyways In The Wild, Wild West Of The Fertility Industry?,
2018
Georgia State University College of Law
Whose Sperm Is It Anyways In The Wild, Wild West Of The Fertility Industry?, Tatiana E. Posada
Georgia State University Law Review
Imagine a couple that is unable to conceive a child naturally. Luckily, they had the money and resources available to them to conceive a child through assisted reproductive technology (ART), so they decided to start their family through the use of intrauterine insemination. They selected a sperm bank and began the arduous process of selecting a sperm donor who fit the desired traits and characteristics for their child. The sperm bank matched them with an anonymous donor, Donor 9623, and assured the couple that the donor was “a healthy male with an IQ of 160, a bachelor’s of science in …
Take This Job And Shove It: The Pragmatic Philosophy Of Johnny Paycheck And A Prayer For Strict Liability In Appalachia,
2018
St. Mary's University School of Law
Take This Job And Shove It: The Pragmatic Philosophy Of Johnny Paycheck And A Prayer For Strict Liability In Appalachia, Eugene "Trey" Moore Iii
The Scholar: St. Mary's Law Review on Race and Social Justice
Abstract forthcoming
Consumer Bitcredit And Fintech Lending,
2018
Texas A&M University School of Law
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 …
Behavioral Finance Symposium Summary Paper,
2018
University of Michigan Law School and Gerald R. Ford School of Public Policy
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.
Insurer Prejudice Analysis Of An Expanding Doctrine In Insurance Coverage Law,
2018
University of Maine School of Law
Insurer Prejudice Analysis Of An Expanding Doctrine In Insurance Coverage Law, Richard L. Suter
Maine Law Review
All contracts of insurance place certain requirements on the insured both before and after a covered loss has occurred. For example, all insurance policies require that an insured notify the insurer of a covered loss and cooperate with the insurer in the investigation of the loss and in the pursuit or defense of any claims arising out of the loss. Traditionally, if an insured failed to comply with such notification or cooperation requirements, the insurer could flatly deny coverage of the claim. Recently, however, an increasing number of courts are requiring that the insurer show that it has been prejudiced …
Legal Issues Surroundings Airline Alliances And Code-Share Arrangements: Insights For The Indonesian And Airline Industry,
2018
Air and Space Law Studies, Universitas Prasetiya Mulya, Indonesia
Legal Issues Surroundings Airline Alliances And Code-Share Arrangements: Insights For The Indonesian And Airline Industry, Ridha Aditya Nugraha
Indonesia Law Review
Following the liberalization of the aviation industry, airlines have been searching for the right business model for their expansion. Today the business concept of the airline alliance is deemed as the correct answer, as many big airlines have joined to secure their business. Code-share arrangements could be seen as the perfect implementation of an airline alliance. Alliances are more flexible than cross-border mergers and takeovers due to national restrictions, making it legally viable and thus a preference. However, code-share arrangements have further legal implications that have led into classification of carriers and ended up a liability issue. There are several …
Solving Sewer Service: Fighting Fraud With Technology,
2018
University of the District of Columbia
Solving Sewer Service: Fighting Fraud With Technology, Adrian Gottshall
Arkansas Law Review
Fraudulently obtained default judgments ruin lives. Many defendants are ignorant of their cases and therefore do not appear for court. Defendants suffer dire consequences as victims of falsified service of process. They learn of their lawsuits after their wages are garnished, assets seized, or when their poor credit precludes them from obtaining housing or a new job. For decades, fraudulent service of process has been widespread in high volume court dockets, such as landlord and tenant, debt collection, and small claims matters. Judgments granted to the debt collector plaintiff disproportionately affect low-income communities of color. Some plaintiffs obtained such judgments …
Killer Cell Phones And Complacent Companies: How Apple Fails To Cure Distracted Driving Fatalities,
2018
University of Miami Law School
Killer Cell Phones And Complacent Companies: How Apple Fails To Cure Distracted Driving Fatalities, Summer Galitz
University of Miami Law Review
With an astounding 1.6 million car crashes occurring each year due to cell phone use while driving, it is clear that the United States is suffering from a serious epidemic of pervasive cell phone use while driving. Although a majority of Americans clearly understand the hazards and dangers involved in texting while driving, cell phone addiction continues to keep drivers glued to their phones. Apple has a tool at its disposal to ensure that drivers no longer use their cell phones while they are driving, yet it has failed to implement its technology. Apple's Driver Handheld Computing Device Lock-Out patent, …
Consumer Arbitrations In The European Union,
2018
Pepperdine University
Consumer Arbitrations In The European Union, Andreas Von Goldbeck
Pepperdine Dispute Resolution Law Journal
The main argument of this paper is that the law should generally enforce pre-dispute consumer arbitration clauses. If the consumer is given a choice between litigation and arbitration at the time of contracting and she chooses arbitration, that choice should generally be enforceable, provided appropriate safeguards are in place guaranteeing access to justice. Consumer protection comes at a cost, which the consumer ultimately pays in the price of the product or service purchased: assuming arbitration is the more cost-efficient dispute-resolution mechanism, consumers choosing arbitration would, in theory, pay a lower price than those choosing litigation. The blanket hostility towards pre-dispute …
Misbehavioral Law And Economics,
2018
Rutgers Law School
Misbehavioral Law And Economics, Jacob Hale Russell
University of Michigan Journal of Law Reform
Many legal rules—ranging from common-law contract doctrines to modern consumer protection regulations—are designed to protect individuals from their own mistakes. But scholars have neglected a core difficulty facing such policies: we humans are a motley bunch, and we are defined in part by our idiosyncrasies. As a result, one person’s mistake is another’s ideal choice. Making matters worse, it is hard to observe when a policy response misfires. If cognitive errors and psychological biases are as prevalent as current research suggests, then we have no reliable way of knowing consumers’ true preferences. So are we always faced with a dilemma, …
Fintech's Double Edges,
2018
University of Kentucky College of Law
Fintech's Double Edges, Christopher G. Bradley
Chicago-Kent Law Review
This symposium essay examines the double-edged nature of financial technologies in financial transactions, especially transactions involving consumers. There are both benefits and risks—often undiscovered or hidden at first—in each new round of financial technologies. A FinTech tool may benefit consumers and then, applied later or in a different context, threaten consumer interests; a tool that harms consumer interests may then lead to development of a tool that favors them. This double-edged nature is an important but unappreciated structural feature of financial technologies. From the perspective of consumer protection, then, FinTech can neither be fully embraced as friend nor restricted as …
The Rise Of Automated Investment Advice: Can Robo-Advisors Rescue The Retail Market?,
2018
University of Nevada, Las Vegas -- William S. Boyd School of Law
The Rise Of Automated Investment Advice: Can Robo-Advisors Rescue The Retail Market?, Benjamin P. Edwards
Chicago-Kent Law Review
Different types of financial advisers serve the massive and widely dispersed retail investment market. In a market riddled with conflicts of interests, many advisers exploit retail customers by pitching suboptimal products, leading to lower investment returns and lower overall growth—but also to greater profits for the financial advisers collecting kickback-style commissions. New financial technology firms, commonly known as Robo-Advisers, may disrupt this market and these exploitative practices. Still, these potentially disruptive automated investment advice firms face significant regulatory risks.
Computer As Confidant: Digital Investment Advice And The Fiduciary Standard,
2018
Georgia State University College of Law
Computer As Confidant: Digital Investment Advice And The Fiduciary Standard, Nicole G. Iannarone
Chicago-Kent Law Review
Digital investment advisers are the fastest growing segment of financial technology (fintech) and are disrupting traditional investment advisory delivery models. The computer-led investment advisory service model may be growing particularly quickly due to a confluence of social and political factors. Politicians and regulators have increasingly focused on the standards of care applicable to investment advice providers. Fewer Americans are ready for retirement and many lack access to affordable investment advice. At the same time, comfort with digital platforms have increased, with some preferring electronic interaction over human interaction. Claiming that they can democratize retirement service by pro- viding advice meeting …
Regtech, Compliance And Technology Judgement Rule,
2018
City University of New York (CUNY), Maurer School of Law: Indiana University, New York University
Regtech, Compliance And Technology Judgement Rule, Nizan Geslevich Packin
Chicago-Kent Law Review
This Article focuses on the rise of Financial Technology, which revolutionized consumer financial service products, and challenged policymakers with regulating the rapidly evolving financial industry. In particular, it explores Regulatory Technology, also known as RegTech, which is the finance industry’s use of technology, especially information technology, in the context of regulatory monitoring, reporting and compliance. RegTech is designed to solve industry needs for a more effective and efficient way to automate corporate governance and compliance processes. Not only has FinTech proven to be a vital revenue source, especially in connection with lending or money transmission services, but it also helps …
Fintech: Antidote To Rent-Seeking?,
2018
Mercer University School of Law
Fintech: Antidote To Rent-Seeking?, Jeremy Kidd J.D., Ph.D
Chicago-Kent Law Review
Innovations in financial technology, or Fintech, has been ongoing for decades but has recently begun to accelerate. Some observers have argued that it will soon begin to outstrip the ability of regulators to keep pace. If those predictions are accurate, what would the world look like with a financial sector that cannot be effectively regulated? One possibility—drawn from public choice economics—is that rent-seeking will be inhibited or eliminated. Rent-seeking is the distortion of law and regulation for the benefit of special interests, who expend resources to guarantee those distortions in their favor. Rent-seeking is inefficient and inhibits growth and innovation, …
