August 13, 2020
The recent death of Alexander Kearns, the 20-year-old day trader who took his own life, has sparked a conversation about the business practices of an increasingly important sector of both tech and finance.
July 21, 2020
Dodd-Frank has caused harmful and sometimes disastrous effects for consumers, investors, entrepreneurs, and Main Street financial institutions such as community banks and credit unions. The ray of sunshine is that there have been bipartisan efforts to provide regulatory relief from some of Dodd-Frank’s biggest burdens, as well financial regulatory agencies creating more flexible rules within the law.
July 17, 2020
CEI has praised Kathy Kraninger, director of the Consumer Financial Protection Bureau, for her many deregulatory initiatives that—in contrast to her predecessor, Richard Cordray—protect consumer choice and beneficial innovation. Yet, we have also criticized her for letting the CFPB continue to pursue some of the meritless litigation of the Cordray era.
June 29, 2020
Those who have followed CEI over the years know that one of our main grievances is “Regulation Without Representation.” The phrase—an apt description of laws effectively made by unelected regulatory agencies instead of the people’s representatives in Congress—also connotes the battle that George Washington and other American patriots fought against taxation without representation.
June 26, 2020
The father of our country is making news, but for disappointing reasons. Washington was trending on Twitter after his statue was toppled in Portland. A private school in Nashville dropped its annual celebration of Washington's birthday, saying it was “not consistent with or relevant to the way that we teach history today.” If anything, current events only serve to make him more relevant than ever.
June 10, 2020
To counter the financial damage from America’s national lockdown, the Federal Reserve has taken unprecedented stepsy. Most of these moves received grudging acceptance even from many Fed skeptics. But the Fed’s expanded powers are all the more reason to be skeptical of its entering into activities the private sector clearly could do and is doing, such as payments services and cryptocurrency.
June 2, 2020
To paraphrase a famous financial services commercial from the 1970s and 1980s, when J.K. Rowling asks, people answer. When the famed author of the Harry Potter series of books requested an explanation of bitcoin on Twitter in May, hundreds of people raced to reply. On May 17, CEI's John Berlau joined the fray in a tweet thread addressed to Rowling.
April 29, 2020
Over the past month, CEI and others have pointed to #NeverNeeded regulations that are hindering our response to the COVID-19 pandemic and to economic dislocation. Now CEI has joined with other industry and policy groups to petition the Securities and Exchange Commission to cease regulatory actions that were not only #NeverNeeded, but never authorized.
April 21, 2020
Libra and other cryptocurrencies could serve functions other than initially imagined. The potential for faster payments from Libra and other cryptocurrencies, at a time when the public and policy makers are looking to move money faster, may be the biggest draw.
April 9, 2020
In a new report, CEI experts outline #NeverNeeded regulations that are frustrating responses to the pandemic and its aftermath. Among those is an obscure Securities and Exchange Commission regulatory “guidance” document that may be hindering production and distribution of much-needed medical supplies.