College of Law Professor Peterson Honored for Consumer Finance Research

by Marty Stolz

College of Law Professor Christopher Peterson’s article about subprime mortgage lending has been selected for the annual consumer finance topic award from the American College of Consumer Financial Services Lawyers.

The article, “Predatory Structured Finance,” published last year in the Cardozo Law Review (28 Cardozo L Rev 2185), discusses who should bear liability for predatory practices of subprime lenders. It explores the ways that the loans are transferred into large pools, with the loan proceeds marketed to investors, a process referred to as “securitization.” Peterson concludes that financial technology has outpaced consumer protection laws and traditional common law remedies are inadequate.

Peterson received his J.D. from the University of Utah, S.J. Quinney College of Law, and two undergraduate degrees from the University of Utah.  His previous honors include National Consumer Advocate of the Year (2007), from the National Association of Consumer Agency Administrators; Outstanding Book of the Year (2004), also from the American College of Consumer Financial Services Lawyers, for his book Taming the Sharks: Towards a Cure for the High Cost Credit Market (University of Akron Press, 2004); and 2002 Joseph Bernfeld National Bankruptcy Law Writing Competition.

Peterson teaches contracts and consumer law. He joins the College of Law faculty beginning in the Fall of 2008, after a year-long position as a visiting professor from the University of Florida.

The American College of Consumer Financial Service Lawyers, Inc. is a professional association of lawyers dedicated to the improvement and enhancement of the skill and practice of consumer financial services law and the ethics of the profession.