This Article argues that private ordering of fraud loss liability in payment card systems is likely to be socially inefficient because it does not reflect Coasean bargaining among payment card network participants. Instead, loss allocation rules are the result of the most powerful party in the...

This Article, part of a theme-volume on the Credit C.A.R.D. Act, explores the phenomenon of credit card “rate-jacking” — the practice of card issuers suddenly raising the interest rate on an account, often applying the new rate retroactively to existing balances. This Article examines the...

This paper is a brief analysis of the proposed class settlement in In re Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 (E.D.N.Y.). The analysis concludes that the relief plaintiff class members would obtain from the proposed settlement is largely illusory. The settlement...

The Dodd-Frank Act's “skin-in-the-game” credit risk retention require- ment is the major reform of the securitization market following the housing bubble. Skin-in-the-game mandates that securitizers retain a 5% interest in their securitizations. The premise behind skin-in-the-game is that it...