The introduction in the late 1990s of Internet securities trading (hereinafter “Cybertrading,” as opposed to “Traditional Trading”) is the most significant technological advance in the area of consumer financial services in the last twenty years. This Note proposes that in light of the development of Cybertrading, new consumer protection legislation may be warranted. The evidence presented here will show that many of the same risks and policy considerations which led Congress to enact consumer protection legislation with respect to credit cards, ATM cards, and Traditional Trading are similar or identical to the risks and policy considerations associated with Cybertrading. If such prior measures may be fairly characterized as successful, similar steps by Congress to protect Cybertraders may be in order.
