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24 Attorneys General Said
UCITAs prefatory note and reporters comments incorrectly present the proposed statute as balanced and as leaving in place basic consumer protection laws and adding new consumer and licensee protections that extend current law. . . . [I]n instances in which provisions are described as new consumer protections, such as the contract formation and modification provisions discussed below, consumers actually have fewer rights than they do under present law.
UCITAs rules deviate substantially from long established norms of consumer expectations. We are concerned that these deviations will invite overreaching that will ultimately interfere with the full realization of the potential of e-commerce in our states.
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Archived CPSR Information
Created before October 2004
Created before October 2004
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