The Transformation of Consumer Payments: Benefits, Dangers, and the Need For Regulation

Consumer payments are undergoing a continuing transformation. Old devices such as Automated Teller Machines (ATMs) are being used in new ways. Newer devices such as mobile phones are being used to deposit checks and transfer payments. New unregulated institutions such as fintechs play prominent roles. The changes will continue, as demonstrated by the introduction of […]

A Rose Is A Rose: Electronic Commerce Spawns Word Confusion

Download Journal Article   According to Shakespeare, “[a] rose by any other name would smell as sweet.” Congress has enacted many statutes to protect consumers; however, courts and agencies have struggled to determine whether those laws still apply when sellers offer the same basic service through new electronic methods using terminology different from that found […]

New Developments in Payment Systems and Services Affecting Low-Income Consumers: Challenges and Opportunities

View Report Advances in digital technology have transformed consumer financial services, including peer-to-peer (P2P) payment platforms like Venmo and Zelle, fintech lending, and cryptocurrency. While these innovations offer greater convenience and efficiency, they also pose significant challenges for low-income consumers. Many in this group lack access to essential tools like internet connections, smartphones, or bank […]

Touching, Tapping, and Talking: The Formation of Contracts in Cyberspace

Download Journal Article Abstract Technology has transformed the consumer marketplace. It has radically changed the way consumers enter into contracts for goods and services. Part II of this Article provides the broader context in which online contracting occurs, describing the general electronic environment that technology has made possible, including its costs as well as its […]