Payment System Regulation and How It Causes Consumer Confusion

Topics:
Commercial Banking
Tags:
Consumer Protection,
Federal Reserve Bank Of Philadelphia,
Finance,
Operational Accounting,
Payment,
Regulation
Source:
Federal Reserve Bank of Philadelphia

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Overview: A workshop led by Professor Mark Budnitz of Georgia State University School of Law. Budnitz described how the regime of consumer payment regulation and various new payment products have led to much confusion among consumers. He also discussed a remedy for this situation: the adoption of uniform federal consumer protection standards. This paper summarizes the workshop and concludes that the current regulatory environment is confusing for consumers and there is a need for more uniform consumer protection standards.

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Format: PDF | Size: 168KB | Date: Nov 2004 | Pages: 9

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