By Víctor Andrade
Credit cards have a complex nature, or better said, as complex as issuers wish it to be. Fractional annual fees or recurring charges, charges per event, late fees, prepaid fees, segmented credit lines, loyalty programs, exclusive promotions, cash advances, and consolidated loans in the event of a minimum payment, are all concepts that, although present in the daily operations of a credit card, can hardly be considered holistically in the decision of contracting or using a particular credit card instead of another.
“Sernac Financiero” means the policy and institutional response to the harmful effects of massification of financial products, in which the main regulatory technique to protect consumers is the use of duties of information.
In this paper we critically review the above option regarding its suitability as a mechanism for achieving adequate financial consumer protection, concluding that its implementation should be improved by taking into account recent findings in the field of behavioral economics. Similarly, weighing the inherent dogmatism of legal economic theories we see the need to expand the current regulatory spectrum, with the aim of taking stronger measures, such as minimum contract content rules and legal prohibitions.
View Original Article: HERE
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
CVS Health Explores Potential Breakup Amid Investor Pressure: Report
Oct 3, 2024 by
CPI
DirecTV Acquires Dish TV, Creating 20 Million-Subscriber Powerhouse
Oct 3, 2024 by
CPI
South Korea Fines Kakao Mobility $54.8 Million for Anti-Competitive Practices
Oct 3, 2024 by
CPI
Google Offers Settlement in India’s Antitrust Case Regarding Smart TVs
Oct 3, 2024 by
CPI
Attorney Challenges NCAA’s $2.78 Billion Settlement in Landmark Antitrust Cases
Oct 3, 2024 by
nhoch@pymnts.com
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh