Proposed Rules for Stablecoins Have Pluses and Minuses
Washington, D.C. – In July 2025, the GENIUS Act, a Federal law regulating payment stablecoins went into effect. This new form of currency is being offered by services such as PayPal, Apple Pay, and Google Play, and in the future, will be issued by banks, bank card companies, and major retailers. In […]
The GENUIS ACT at Six Months: Proposed Federal Stablecoin Regulations Still Fall Short on Consumer Protection
I. Introduction Consumers increasingly are being urged to make payments using stablecoins. This form of cryptocurrency is already being promoted by services such as Venmo, PayPal, Apple Pay, and Google Pay, and likely will be issued by banks, fintechs, bank card companies, and major retailers. As discussed in this report, consumers using payment […]
Big Tech and Consumer Payments: the Good, the Bad, and the Unintended Consequences
Download Journal Article Abstract “Each stage of the American banking industry history demonstrates the interlinkage of finance and technology…” Our era is no exception. The financial services industry has taken advantage of Big Tech to transform consumer payments. This article describes some of these changes and how they have resulted in positive, negative and […]
Stablecoin Risks Loom
View Op-Ed Stablecoin use has been exploding, with monthly transaction volume of U.S.-backed coins increasing from nearly nothing in 2020 to over a trillion dollars this past September. This dramatic increase accelerated after President Trump signed the Genius Act into law last July. Exchanges and platforms including PayPal, Apple Pay, and Google Pay have […]
Consumers Using Stablecoins For Payments Face Greater Risks
July 2025 Genius Act Provides Fewer Consumer Protections Than Supports Claim Washington, D.C. – In coming months and years, consumers will be urged to make payments using stablecoins. This form of cryptocurrency already can be purchased through services such as PayPal, Apple Pay, and Google Pay, and is likely to be issued […]
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 […]
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 […]
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 […]
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 […]