Fox News
Banking industry pushes back on CFPB’s warning over use of AI chatbots
Fox News quotes CEI’s John Berlau on the Consumer Financial Protection Bureau’s recent advisory regarding artificial intelligence in customer service:…
News Release
SEC’s Case Against Coinbase Threatens All U.S. Entrepreneurs
John Berlau, CEI Director of Finance Policy, today criticized the SEC for its ill-founded lawsuit targeting Coinbase: “The Securities and Exchange…
Blog
SPPI-TV hit: How price controls endanger small dollar loans, boost loan sharks
In my first media appearance from the sleek new CEI studios at our offices in Washington, DC, I joined a great panel on the May…
Blog
New credit card late fee rule hurts folks who pay their bills on time
There has rightly been an outcry after the Federal Housing Finance Agency (FHFA), which sets policy for the government-sponsored enterprises (GSE) Fannie Mae and Freddie…
Comment
CEI leads comments on CFPB’s $8 price controls on credit card late fees
In the matter of the proposed rule“Credit Card Penalty Fees (Regulation Z)”Consumer Financial Protection BureauDocket No. CFPB–2023–0010; RIN 3170–AB15 Prepared by: John BerlauDirector of Finance…
News Release
Congress Must Examine First Republic’s Woke Financing and Risk Management Regulation
Regulators today seized the failed First Republic bank and sold its operations to JPMorgan Chase. CEI financial policy expert John Berlau reiterated the need for…
Letters
CEI Co-Leads Coalition Letter Calling For External Audit of Fed on Bank Failures
As the Federal Reserve (Fed) readies its internal review of its actions leading up to the Silicon Valley Bank (SVB) collapse, we the undersigned organizations…
Wall Street Journal
CFPB Tries to Censor Speech on Chicago Crime
The Consumer Financial Protection Bureau, a federal bureaucracy with a vast jurisdiction, is testing a novel approach to crime and punishment. In a lawsuit against…
News Release
Supreme Court Ruling Ensures People Can Challenge Agency Authority in Court
The Supreme Court ruled today that regulatory agency tribunals do not have any special expertise in deciding constitutional law questions; therefore, district courts can hear…
Blog
FedNow Isn’t a CBDC, But Still Contains Many Dangers
Over the past few days, “FedNow” has been trending on Twitter in tweets that contain healthy doses of curiosity and skepticism, well-founded concerns about privacy…
Blog
Finance Facts Trump Biden’s Blame Game on Banking Woes
Donald Trump dominated the news in more ways than one yesterday, as Biden officials attempted to place the Trump administration at the center of recent…
Blog
The Many Harms of Unlimited Deposit Insurance
Unlimited deposit insurance – the government guaranteeing that bank accounts of any size be made whole-in the event of a bank failure – would create…
Blog
The Risks of Bailing Out Silicon Valley Bank’s Uninsured Depositors and How to Make the Banking System Resilient
On Sunday evening, the Biden administration decided that all customers of the failed Silicon Valley Bank will have their millions and possibly billions in the…
News Release
Congress Shouldn’t Compound Silicon Valley Bank Collapse with Bailouts and Bad Ideas
The Silicon Valley Bank collapse has spurred some terrible policymaking ideas in Congress, exacerbating bad decisions by the bank that has led to its collapse.
Bloomberg
Biden Vows to Hold Banks Accountable, Urges Stronger Rules (2)
John Berlau, director of finance policy at the Competitive Enterprise Institute, said “prudent banks suffering the fallout from SVB should not…
News Release
Supreme Court Rightly to Review CFPB Funding Constitutionality
The Supreme Court today announced it will review the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding, an unusual arrangement of unchecked funding from…
Blog
Fed Economist: Study Shows Danger of Government-Mandated Financial Misinformation
Study from Fed Economist Shows Danger of Government-Mandated Financial Misinformation The “Twitter Files” have made some shocking revelations about government entities…
Blog
Study from Fed Economist Shows Danger of Government-Mandated Financial Misinformation
The “Twitter Files” have made some shocking revelations about government entities muscling social media companies to deplatform people in the name of preventing so-called…
Blog
Hearing Shows Bipartisan Momentum for Focused Financial Deregulation
Last week, I had the honor and pleasure of testifying at the first hearing of the newly constituted Financial Institutions and Monetary Policy subcommittee…
Testimony
CEI’s John Berlau Testifies Before House Financial Services Committee: Hearing: “Revamping and Revitalizing Banking in the 21st Century”
Chairman Barr, Ranking Member Foster, and honorable members of this Subcommittee, thank you for this opportunity to present testimony on behalf of my organization,…
Crowd Fund Insider
House Subcommittee on Financial Institutions Schedules Hearing to Discuss Banking and Need to Update Regulations in Line with Emerging Technology
CEI’s John Berlau is cited on Crowd Fund Insider on banking regulations: The House Subcommittee on Financial Institutions and Monetary Policy, part of the Financial Services…
News Release
CFPB Cap on Credit Card Late Fees = Price Controls that Raise Cost of Credit for Everyone
The Biden White House is touting a new proposed rule from the Consumer Financial Protection Bureau that would cap most credit card late fees…
Blog
Berlau Crypto Letter and Comments in Wall Street Journal and Washington Examiner
This week, I have had the honor of being quoted in a great article on cryptocurrency trends and regulation in the Washington Examiner and having…
Forbes
Fed Economist’s Study Shows Harm Of Government-Spread Misinformation On Small Loans
The “Twitter Files” have made some shocking revelations about government entities muscling social media companies to de-platform people in the name…
Blog
The Deregulatory Pony for Small Biz Buried in the Omnibus Pile
There’s not much good to say about an “omnibus” bill crammed in at the end-of-year lame duck session of Congress that contains a grab bag…
Wall Street Journal
The Meaning of the Bankman-Fried Indictment
The Wall Street Journal cites Senior Fellow John Berlau on the Sarbanes-Oxley law: “Earlier this year John Berlau and Josh Rutzick wrote in the Journal on the…
Blog
FTX Hearings Should Probe Fraud Charges and the SEC’s Misplaced Priorities
In the wake of the arrest of and charges of fraud against Sam Bankman-Fried, the disgraced founder and former CEO of the FTX…
Blog
Why Choke Point Should Bar Gruenberg from Being FDIC Chair
Tomorrow morning, the Senate Banking Committee will hold a hearing on President Biden’s nomination of Marty Gruenberg to once again serve as Chair of the…
Blog
Gensler Fiddled with ESG and Power Grabs while FTX Burned
When asked on CNBC about the implosion of crypto exchange FTX, Securities and Exchange Commission (SEC) Chairman Gary Gensler turned the focus away from the…
News Release
FTX Crypto Problems Reveal SEC Shortcomings, As Well: CEI Analysis
The current collapse of cryptocurrency company FTX has exposed another festering problem with how the industry is being regulated, says CEI Senior Fellow John Berlau:…
Blog
Reining in Biden CFPB’s “Junk” Policies with Fifth Circuit Ruling
When the federal Fifth Circuit Court Appeals ruled last week, in Community Financial Services v. Consumer Financial Protection Bureau, that the funding structure of…
News Release
Biden Wrong About “Junk Fees” in Sweeping Government Mandate
Today the Biden administration announced a new whole-of-government initiative against “junk fees” from airlines, banking, and other industries. But what he is calling junk fees aren’t…
News Release
Court Rules CFPB Funding Structure Unconstitutional: CEI Statements
A Fifth Circuit panel ruled Wednesday that the Consumer Financial Protection Bureau’s unusual funding structure is unconstitutional, in a lawsuit brought by a small-dollar (payday)…
Blog
Excerpts from Austin Keynote: How CBDCs Could Be the New Operation Choke Point
This week, I attended the exciting INFiN MoneyTrends conference in Austin, where I gave the Regulatory Keynote address on Monday. The conference is a…
Blog
FTC Goes Back to Bad ‘70s Policies in Motor Vehicle Dealer Rule
Last night at CEI’s annual Julian L. Simon Memorial Award Dinner, CEI celebrated the 1970s—both the fashions and the deregulation toward the end of the…
Comment
Comments to the Federal Trade Commission Regarding the Motor Vehicle Dealers Trade Regulation Rule
Comment Submitted: September 12, 2022 Docket No. FTC-2022-0046-0001 On behalf of the Competitive Enterprise Institute (CEI), I respectfully submit the following comments in response to…
Blog
Paternalistic FTC Rule Would Stifle Consumer Choice in Auto Market
As if American drivers didn’t face enough headwinds with high gas prices, supply chain constraints, and state rules that may force them out of…
Blog
Prominent Short Sellers Target ESG-themed Firms
For a long while, my CEI colleagues and I have touted the vital role that short sellers play in a free market economy. CEI Founder…
Blog
Why Carried Interest Tax Hike Deserves to Die in IRA and Otherwise
The Inflation Reduction Act (referred to by critics such as Phil Kerpen as the Income Reduction Act) will likely be voted on in the…
Wall Street Journal
The 20-Year Experiment Holding America Back
Many commentators these days, both progressive and conservative, decry a lack of opportunities for the American middle class, the concentration of certain industries under a…
Law & Liberty
A Declaration of Independence from the Administrative State?
At gatherings this July 4, there will likely be impassioned conversations about recent Supreme Court decisions. But it’s a ruling a few weeks ago from…
Blog
Defeat of Pot Banking Liberalization Will Lead to More Violent Crime and Reduced U.S. Competitiveness
It is beyond disappointing that Congress once again dropped the Secure and Fair Enforcement (SAFE) Banking Act—bipartisan legislation that would prevent the federal government from…
CrowdFund Insider
Competitive Enterprise Institute Securities Expert on Crypto Legislation: “It will have many positive effects”
CrowdFund Insider cites CEI Senior Fellow and Director of Finance Policy John Berlau on crypto: Berlau, a senior fellow and Director…
InsideSources
Critics Get ‘Whiff of Racism’ in Progressive Attempts to Shut Down Tribal Lenders
InsideSources cites CEI Director of Financial Policy and Senior Fellow John Berlau on interest rates: John Berlau, Director of Finance Policy…
Blog
Crypto Volatility Heightens with Panic-Driven Regulation
In reaction to the volatile events of the last few weeks, both the stock and cryptocurrency markets have taken a deep dive. While this downturn…
News Release
Bipartisan Cryptocurrency Bill Takes Good Steps for American Innovation
Today, Senators Lummis and Gillibrand released their much anticipated bill on cryptocurrency regulation. CEI financial policy expert John Berlau praised aspects of the bill…
Blog
George Washington, George Jarkesy, and the Administrative State’s Lack of Fundamental Justice
The recent ruling by the U.S. Court of Appeals for the Fifth Circuit in Jarkesy v. SEC is a victory for limited constitutional government…
Blog
Credit Union Liberalization Bill Clears Away Never-Needed Red Tape
When I testified last July at a high-profile hearing on financial inclusion, I urged members of the House Financial Services Committee to liberalize regulations…
Blog
CEI Joins Groups in Telling SEC to Stay Away from Private Markets
It’s bad enough that Congress and the Securities and Exchange Commission (SEC) have made it so costly for smaller companies to go and stay public…
Blog
Lisa Cook’s First Amendment Problem Should Concern Senators
As early as Tuesday, the U.S. Senate could vote on the nomination of Lisa Cook to be a governor of the Federal Reserve, along with…
Comment
Joint Comments on the Securities and Exchange Commission’s Incursion into Private Markets.
RE: Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews (SEC Release Nos. IA-5955; File No. S7-03-22) Dear Ms. Countryman: The undersigned organizations appreciate…
Blog
My Response to the CFPB’s “Junky” Regulatory Inquiry on Fees
In response to the Consumer Financial Protection Bureau’s (CFPB) “request for information” on what its Director Rohit Chopra has labeled as “junk fees” on financial…
FOX Business
Biden Administration Moves on Taxing, Regulating Cryptocurrency
FOX Business cites Senior Fellow John Berlau on the Biden Administration’s recent moves to tax cryptocurrency: Thanks to a provision in the…
Comment
Comments to the Consumer Financial Protection Bureau on its Request for Information on “Junk Fees”
Dear Director Chopra: On behalf of the Competitive Enterprise Institute (CEI), I respectfully submit the following comments in response to the Consumer Financial Protection Bureau’s…
The Washington Times
Evictions on the Rise but Lawsuits, Nonpaying Tenants Still Vex the Rental Housing Market
The Washington Times cites Director of Finance Policy John Berlau on the effects of landlords being unable to enforce contracts and rules:…
Crowdfund Insider
JOBS Act of 2012: Ten Years of Legalized Investment Crowdfunding
Crowdfund Insider cites Director of Finance Policy John Berlau on outcome of the JOBS Act 10 years later: CI also spoke with John…
Blog
Celebrate Decade of JOBS Act as Deregulatory Success
10 years ago, a GOP-controlled House, a Democrat-controlled Senate, and a Democratic president came together to lighten the regulatory burden on America’s upstart job creators.
Blog
Why Cannabis Banking Liberalization Would Indeed Increase U.S. Competitiveness
As war continues in the aftermath of Russia’s invasion of Ukraine, interest by policy makers and the media has spiked in competitiveness bills passed separately…
Letters
CEI Joins Coalition Letter on Durbin Amendment
Dear Chairman Brown, Ranking Member Toomey, Chairwoman Waters, and Ranking Member McHenry: The undersigned organizations write in opposition to any legislation that would expand or…
News Release
SEC Climate Disclosure Rule Will Cause Big Problems, CEI Experts Predict
Today the Securities and Exchange Commission described a new rule it plans to impose concerning climate disclosure requirements that may affect even private companies as…
Forbes
Yes, Cannabis Banking Liberalization — SAFE Banking Act — Would Indeed Make U.S. More Competitive
As war continues in the aftermath of Russia’s invasion of Ukraine, interest by policymakers and the media has spiked in the America COMPETES Act, legislation…
News Release
After Bloom Raskin Withdrawal, Biden Should Nominate Someone Focused on Financial Stability, Monetary Policy
President Biden’s nominee to be Federal Reserve Vice Chair for Supervision Sarah Bloom Raskin withdrew her nomination from consideration today, after it became clear that…
USA Today
What Did Biden Get Wrong on Crypto? His New Order Threatens to Smother Innovation
President Joe Biden released an executive order Wednesday that could curtail opportunities that cryptocurrency provides for economic advancement, notwithstanding the order’s hopeful tone about…
News Release
CEI Statement: Biden Executive Order to Target Crypto for Regulation
The White House is set to release an executive order today regulating cryptocurrency. CEI Senior Fellow John Berlau expressed concerns about the order and the…
The Washington Times
What Would George Washington Have Done?
The Washington Times cites Senior Fellow John Berlau on his book, George Washington, Entrepreneur: John Berlau has just written a most interesting…
Blog
George Washington, Larry David, Cryptocurrency, and Freedom
One of the most talked-about Super Bowl ads was that of Larry David traveling through history and naysaying innovations that turned out to be hugely…
Blog
Lisa Cook’s First Amendment Problem
Today, the Senate Banking Committee is set to vote on five nominations for the Federal Reserve Board. My CEI colleague Myron Ebell and I have…
The Epoch Times
President George Washington: America’s ‘First Entrepreneur’
The Epoch Times cites Director of Finance Policy John Berlau on President George Washington: Private enterprises he founded had an effect on…
Blog
New Mexico Should Reject Interest Rate Limit Base on Federal Mismeasurement
There is an old saying that “a lie can travel halfway around the world while the truth is still putting on its shoes.” It has…
News Release
CEI Joins AEA in Opposing Sarah Bloom Raskin’s Nomination to Federal Reserve
The Competitive Enterprise Institute (CEI) signed onto a letter by the American Energy Alliance (AEA) opposing the White House’s nomination of Sarah Bloom…
Letters
Coalition Letter Opposing Sarah Bloom Raskin’s Nomination to Federal Reserve
Dear Chairman Brown and Ranking Member Toomey, As public policy groups who fight for free markets, sound science, and affordable energy, we write in opposition…
Blog
CFPB’s Dodd-Frank Race and Gender Data Collection Mandates Will Harm Financial Inclusion
In mid-2020, on the 10th anniversary of the Dodd-Frank financial overhaul being rammed through Congress and signed by then-President Obama, I catalogued the damage…
The Washington Times
Experts Say More Americans Will Face Debt, Credit Card Delinquency This Year
The Washington Times cites Director of Finance Policy John Berlau on the consequences of lockdowns: John Berlau, director of finance policy…
Comment
Comments to Consumer Financial Protection Bureau on Small Business Lending Data Collection By Race and Gender
Dear Mr. Chopra, On behalf of the Competitive Enterprise Institute (CEI), I respectfully submit the following comments in response to the Consumer Financial Protection Bureau’s…
National Review
The Fight for the FDIC
While the downfall of “Build Back Better” has been getting a lot of attention, it was not the only Washington policy drama…
News Release
Biden Bank Regulator Nominee Withdraws Due to Bipartisan Opposition
President Biden’s pick for Comptroller of the Currency withdrew today after critics, including the Competitive Enterprise Institute, exposed her many statements sympathetic to communism. CEI…
Law & Liberty
What’s in Your Wallet?
To help foot the bill for the “Build Back Better” budget reconciliation bill—originally slated to cost $3.5 trillion—the Biden administration proposed an unprecedented measure for…
The Epoch Times
Bank Regulator Nominee Tries to Detach From Her Bank Centralization Ideas During Hearing
The Epoch Times cites Senior Fellow John Berlau on a recent statement by Saule Omarova. John Berlau, senior fellow at the free-market…
News Release
Senators Should Reject Comptroller of Currency Nominee Saule Omarova
WASHINGTON – In a hearing today, Senators on the Banking Committee will consider the nomination of Saule Omarova to be Comptroller of the Currency. …
Letters
CEI Joins Letter Opposing Nomination of Saule Omarova for Comptroller of the Currency
November 5, 2021 The Honorable Sherrod Brown Chairman Senate Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building Washington, D.C.
News Release
President Biden Signs Problematic Crypto Provisions into Law
WASHINGTON – President Joe Biden signed the bipartisan infrastructure bill into law today, including more than one trillion dollars in government spending. In addition to…
News Release
CEI Experts Weigh In on Reconciliation Framework Agreed to by White House and Congressional Democrats
WASHINGTON – The White House and congressional democrats announced agreement on a “framework” for a reconciliation bill that will spend nearly $2 trillion and includes…
Blog
Lenny Bruce, Capitalism vs. Communism, and Biden’s Banking Nominee
At the height of the Cold War in the 1960s, then-controversial comedian Lenny Bruce offered a surprising boost to the defense of capitalism over communism.
Blog
“Stop Wall Street Looting Act” Would Empower Wall Street, Harm Main Street
Washington policies are often misnamed. Recent legislative proposals labeled “infrastructure” concerned not roads or bridges, but social spending. But sometimes, a bill in Congress…
Blog
Reconciliation Bill Provision Threatens IRA Holders’ Investing Opportunities
A couple of weeks back, I commented, in a Competitive Enterprise Institute blog post, on a provision of the $3.5 trillion budget reconciliation bill…
The Wall Street Journal
The Fed’s Dismal Digital-Dollar Idea
Alexander William Salter is spot on when he warns of the “Dangers of a Digital Dollar” (op-ed, Oct. 6) to financial…
Forbes
How Budget Reconciliation’s IRA Regs Undermine Bipartisan JOBS Act
In 2012, President Barack Obama signed into law the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that reduced regulatory barriers preventing ordinary Americans…
News Release
Senate Should Weigh Disturbing Writings of Biden’s CFPB Nominee and Reform Unaccountable Agency
Today the Senate is expected to vote on President Biden’s nominee to head the Consumer Financial Protection Bureau, Rohit Chopra. CEI Senior Fellow John…
News Release
China Cryptocurrency Ban A Lesson For US: CEI statement
China’s plans to ban private cryptocurrency is terrible but also offers a lesson and opportunity for US policymakers, says Competitive Enterprise Institute financial policy expert…
Blog
Proposed New Restrictions Threaten Opportunity for Middle Class Investors
While President Biden and Congressional Democrats have called for reining in big firms through antitrust and other punitive policies, a tax provision contrived by Congress…
Blog
CEI Continues Fight for Cryptocurrency Freedom
Because the Senate failed to adopt the bipartisan Wyden-Lummis-Toomey amendment even after it was watered down, the infrastructure package’s cryptocurrency tax reporting provisions could destroy,…
News Release
Senate-Passed Infrastructure Bill Is a Gigantic, Counterproductive Spending Bill: CEI Analysis
The Senate today passed a complicated, controversial $1 trillion bipartisan infrastructure bill. CEI policy experts criticized the mammoth bill as a plan that will do…
Blog
Senate Should Pass the Wyden-Lummis-Toomey Cryptocurrency Amendment
The Senate must adopt the bipartisan Wyden-Lummis-Toomey amendment to ensure that the infrastructure package’s cryptocurrency tax reporting provisions do not destroy, rather than help build,…
Forbes
Infrastructure Bill Threatens Cryptocurrency Ecosystem: Why Is Crypto Being Targeted With More Tax Reporting Burdens Than Traditional Finance?
The Senate is poised to vote on an infrastructure bill containing tax-reporting “revenue” provisions that could have devastating effects on the business model of cryptocurrency…
Blog
Wisdom on the Interest-Rate Price Control Folly from John Stuart Mill to Thomas Sowell
Today, the Senate held a hearing entitled, “Protecting Americans from Debt Traps by Extending the Military’s 36% Interest Rate Cap to Everyone.” But the…
Testimony
Testimony of John Berlau Before the House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions
Chairman Perlmutter, Ranking Member Luetkemeyer, and honorable members of this Subcommittee, thank you for this opportunity to present testimony on behalf of my organization, the…
News Release
CEI Experts React to President Biden’s Wide-Ranging Executive Order on Competition
President Joe Biden signed an Executive Order on Promoting Competition in the American Economy today, which the White House claims is aimed at enhancing…
Forbes
How Regulation Creates an Elite Investor Class
Forbes cites Senior Fellow John Berlau on his book, George Washington, Entrepreneur: How Our Founding Father’s Private Business Pursuits Changed America and the World:…
News Release
House Should Be True to America’s Credit Need and Reject Anti-True Lender Resolution
The House is expected to vote soon on a resolution that would un-do a valuable Trump-era deregulatory rule called the “True Lender” rule. CEI led…
News Release
Mark Calabria Had Excellent Stewardship of Fannie, Freddie While at Federal Housing Finance Agency
On news today that President Biden is replacing Trump appointee Mark Calabria as head of the Federal Housing Finance Agency (FHFA), which oversees government-sponsored enterprises…