{"title":"Risky Business: Legal Implications of Emerging Technologies Affecting Consumers of Financial Services","authors":"Z. Bednarz, Kayleen Manwaring","doi":"10.2139/ssrn.3880912","DOIUrl":"https://doi.org/10.2139/ssrn.3880912","url":null,"abstract":"Artificial Intelligence- (AI) driven Big Data analytics are becoming a core capability for financial institutions, giving rise to promises of profits and increased efficiency both for new FinTech firms and incumbent institutions. This, however, may come at a cost to consumers. This chapter analyses the challenges to legal and regulatory framework applicable to provision of financial services to consumers brought about by the use of AI and Big Data tools by financial services firms. We discuss harms to consumers potentially arising in terms of discrimination, privacy breaches, digital manipulation and financial exclusion, and argue policymakers and regulators must deliver a fit-for-purpose legal and regulatory framework, allowing both financial firms and consumers to reap benefits of the technological revolution.","PeriodicalId":334229,"journal":{"name":"LSN: Discrimination in Consumer Transactions (Sub-Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129571601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kevin M. McDonald, Karl Hochkammer, Steven M. Wernikoff
{"title":"Consumer Law Immersion","authors":"Kevin M. McDonald, Karl Hochkammer, Steven M. Wernikoff","doi":"10.2139/ssrn.3219912","DOIUrl":"https://doi.org/10.2139/ssrn.3219912","url":null,"abstract":"As part of Washington University School of Law’s (WashULaw) Online Master of Legal Studies (MLS) program, students attend optional weekend immersion courses at the law school in St. Louis in both the spring and fall. We recently taught a course on consumer law over the spring 2018 weekend session held on March 23-25, 2018. In attendance were twenty-two students, most of whom were enrolled in the MLS program. Several were foreign lawyers and one was an LL.M. student. This article summarizes our three-day experience and concludes with our key learnings that incorporate feedback we received from students both during and after the course.","PeriodicalId":334229,"journal":{"name":"LSN: Discrimination in Consumer Transactions (Sub-Topic)","volume":"357 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121535085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}