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CFPB Moves to Cut Off Any Loans to People with Bad Credit
According to the federal government, people may have to live on the streets, but at least they aren’t being “exploited” by companies who are willing…
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Seattle Regulators Go After Rideshare Driver Privacy
Today, I have a column up at FEE.org on the need for classical liberals to make financial privacy as important an aspect of their…
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The Chilling Effect of Dark Matter
Here at CEI, we know all about the chilling effect of executive power. We also know quite a bit about the extent to which…
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Free Market Road Show: The Sharing Economy
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The Sharing Economy Is More than Just Uber
In an article for The New York Times, columnist Farhad Manjoo worries that the Uber model of app-based service companies has run its course. He points out…
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Questions for CFPB Director Richard Cordray
Tomorrow, Richard Cordray, director of the Consumer Financial Protection Bureau, will face questions from the House Financial Services Committee. Here are some of the questions…
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Australian Bank Devalues Rewards Scheme in Anticipation of Interchange Fee Cap
I fear I am beginning to sound like a broken record on the subject of payments card interchange fees, with the needle stuck on “We…
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White House Threatens Veto to Choke Point Reform Bill
As has been demonstrated time and again, this administration is opposed to any change in the law that will reduce its powers. We see this…
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Bill Aims to Stop Operation Choke Point Happening Again
Operation Choke Point is a major abuse of executive authority. As we have detailed over the last couple of years, Choke Point is an…
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Interchange Fee Warnings Coming True in EU
We have often warned about the negative effects of interchange fee regulation and specifically a cap on interchange fees. Last year we warned the European Parliament that…
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Lyft Drivers Remain Independent Contractors
A California class-action lawsuit against ridesharing company Lyft has been settled without trial. In the settlement, Lyft agreed to pay its drivers, their lawyers, and…
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Market Dominance Doesn’t Last; Regulation Shouldn’t Either
One of the justifications for heavy regulation of large companies is that they use market power to crush competition and maintain market dominance. Yet the…
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Three Economists Had the Answer to the President’s Questions
Last night at the State of the Union, the President asked three questions regarding domestic policy (I’ll leave the foreign policy question to others). They…
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The EU Faces Many Challenges in 2016
The EU is in a quiet crisis. For the first time it faces the prospect of a major economy leaving the EU voluntarily. Its internal…
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Promoting Economic Freedom in 2016
It was Marxists who wanted permanent revolution, but it is capitalists who have delivered it. The last 50 years have seen a sustained revolution in…
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A Fundamental Misunderstanding of Free Enterprise
Today, in The Guardian, columnist Zoe Williams repeats an idea often advanced by progressives, that entrepreneurial activity is dependent on the action of others, especially “government,”…
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Bureau of Labor Statistics Releases October Jobs Report
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Halloween Not So Scary for Parents
When it comes to Halloween these days, it seems that parents scare more easily than their children. For the past 15 years, I have checked…
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Back to the Future in Payments Technology
One of the things Back to the Future Part II almost got right about 2015 was how Biff paid for his cab ride—with a thumbprint. A lot…
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Fed Reacts to Job Reports, Why Doesn’t Department of Labor?
We had another jobs report below expectations this morning, coupled with a rare revision downwards of last month’s jobs report. This ends a summer of jobs…
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World Bank Increases Number of Poor
The World Bank is considering changing its definition of what constitutes extreme poverty, raising the level below which someone is treated as extremely poor from $1.25…
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Transparency in Card Fees: Where Does the Argument Stop?
There are three ways banks that issue credit and debit cards can gain revenue from them: interest rates (in the case of credit cards) charged…
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Australian Reserve Bank Gets the Economics Wrong on Interchange Fees
A new report commissioned by the International Alliance for Electronic Payments, of which CEI is a member, finds that the Reserve Bank of Australia…
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NLRB’s Joint-Employer Ruling: Payback for Unions at Workers’ and Business’ Expense
In a radical new ruling, the National Labor Relations Board (NLRB) late last week threw all American franchise and contract businesses into a state of…
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The NLRB Declines Jurisdiction in College Athlete Unionization Case
The National Labor Relations Board has declined the opportunity to rule on whether or not college athletes are employees and can therefore be…
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The Administration Is about to Upend American Business Practices
It is probably the biggest change in American employment law since the National Labor Relations Act and its reform in the 1930s and ‘40s, but…
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CEI and Allies Submit Evidence to Australian Senate Inquiry on Credit Cards
Today, CEI and other members of the International Alliance for Electronic Payments joined the Australian Taxpayers Alliance in submitting evidence to an Australian Senate inquiry into credit…
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Financial Regulation and Payments Update: July 31, 2015
Last week saw the fifth anniversary of Dodd-Frank and there was a great deal of commentary from opponents of the act, not least from us…
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Dodd-Frank’s Dire Legacy: The Durbin Amendment
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UK Banks End Reward Programs in Anticipation of Interchange Fee Caps
File this one under “we told you so.” The Independent reports a scale-back in credit card reward programs in the United Kingdom: The…