The Development of Consumer Protection Law, the Institutionalization of Consumerism, and Future Prospects and Perils
64 Pages Posted: 13 Mar 2012 Last revised: 16 Mar 2012
Date Written: 2010
The article examines major developments in the statutes, regulations and Supreme Court cases that have regulated consumer financial services since 1969. Major victories and defeats in the battle for laws protecting consumers are described. Consumer protection law is analyzed within the context of consumerism and its role as a movement for social change and law reform. The article describes the development of a permanent organizational structure for engaging in consumer law reform. This development has resulted in the institutionalization of consumerism and its values have become embedded in society’s values, better ensuring its survival. Finally, the article explores the prospects of the continued development of strong consumer protection law and the perils it faces in the future.
Keywords: consumer protection, consumers, financial services, consumer protection law, consumerism, social change, reform, consumer law, legal history
JEL Classification: D18, K00, K19, K29, K30
Suggested Citation: Suggested Citation