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Colston E. Warne Lecture: Consumer Protection 2.0—Protecting Consumers in the 21 st Century
Author(s) -
MIERZWINSKI EDMUND
Publication year - 2010
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.2010.01185.x
Subject(s) - consumer protection , agency (philosophy) , battle , arbitration , enforcement , business , preemption , database transaction , the internet , state (computer science) , law enforcement , consumer privacy , law , finance , advertising , political science , commerce , sociology , information privacy , social science , archaeology , algorithm , world wide web , computer science , history , programming language , operating system
The consumer advocacy movement has achieved many successes in the past one hundred years or more but still faces pushback from powerful special interests, including preemption of state authority, and contractual limits, such as arbitration, restricting private enforcement. Further, since laws have not kept up with changes in the financial marketplace, new financial transaction protections are needed. This commentary proposes new approaches for improving consumer protection and giving new tools to consumer advocates, both on and off the Internet, and examines the battle to enact a Consumer Financial Protection Agency.