CEI has fought excessive regulation in the financial sector from laws such as Sarbanes-Oxley and Dodd-Frank. We have scored major bipartisan victories for deregulation. These include the Jumpstart Our Business Startups (JOBS) Act, signed by President Obama in 2012, that lifted or relaxed some of the biggest burdens preventing small and midsize firms from raising capital and going public; and the Economic Growth, Regulatory Relief, and Consumer Protection Act, signed by President Trump in 2018, that lifted some of Dodd-Frank’s crushing burden on community banks and credit unions. We continue to fight to remove regulatory barriers that limit choices and increase costs for entrepreneurs, investors, and consumers.
Banking and Finance Issue Areas
Featured Posts
Cato Institute
The Fate of ‘Never Needed’ Regulations
Parking lots and parking garages have served for decades as venues for clandestine meetings in the movies and often in reality. In the early 1970s,…
News Release
House poised to end Biden-era CFPB overdraft rule: CEI statement
The House is expected today to vote on a Congressional Review Act (CRA) resolution overturning a Biden era Consumer Financial Protection Bureau rule to cap…
Issues & Insights
Reviving Community Banking By Lifting Barriers To New Banks
Americans have far fewer banks to choose from than they once did. The American banking industry has consolidated, with the number of U.S. banks falling…
Search Posts
Politico Morning Money
So … No Shutdown: Financial Fixes Report
Politico’s Morning Money highlights John Berlau’s report on five key financial reforms. FINANCIAL FIXES REPORT — The Competitive Enterprise Institute on Tuesday is…
Blog
CFPB Delays Prepaid Card Rule
Earlier today, the Consumer Financial Protection Bureau (CFPB) announced it will delay its 1,700-page prepaid spending cards rule until April 1, 2018. This follows…
Blog
Big Changes to Banking and Finance Regulation on the Horizon
Major reform of banking and finance regulation could be coming soon to Washington, D.C.
Letters
CEI Joins Open Letter Congress Urging a Stop to the Obama Administration’s Fiduciary Rule
View Full Document as PDF Members of Congress: On behalf of the undersigned free market organizations representing millions of Americans, we urge…
News Release
Five Financial Reforms to Help Jumpstart U.S. Economic and Investment Opportunities
A new Competitive Enterprise Institute report identifies five urgent financial reform priorities needed to free people from regulations that hurt small businesses and entrepreneurs…
Study
Five Key Financial Regulation Reforms
View Full Document as PDF First there was “fintech,” now there is “regtech.” Fintech—short for “financial technology”—is the popular term to describe…
News Release
Trump Order on Too Big To Fail a Good Start to Ending Red Tape, Bailouts
Today, President Trump is set to sign a presidential memorandum aimed, in part, at reviewing the process for designating non-bank financial institutions as “systemically important,” better…
Blog
African Development Requires Economic and Legal Reforms, Affordable Energy
If the African continent is to achieve the prosperity it deserves, then African policy makers and non-governmental organizations alike should strive to implement pro-growth policies.
Blog
How Payday Lenders & Check Cashers Help the Poor
Our friends at Reason TV have another fascinating video out on the ethics and politics of short-term financial services like payday lending and check cashing.
Blog
A ’21st Century Glass-Steagall’ Would Be Bad for the Financial System
A UK-style "ring-fencing" plan for banking regulation would be a bad idea.
Blog
White House Should Drop Support for Cronyism of Export-Import Bank
With the Trump administration’s early emphasis on deregulation, there was hope that cronyist agencies such as the Export-Import Bank, Overseas Private Investment Corporation, and Economic…
Blog
Glass-Steagall Would Not Have Prevented the Financial Crisis
The Glass-Steagall Act was an ineffective and harmful regulation for a bygone era. To re-impose it now would be to inject additional risk into the…
Blog
Lawmakers Should Shun Long-Repealed Bank Restrictions
The Glass-Steagall Act is the bad idea that never seems to die.
Breitbart
Exclusive–Iain Murray: ‘We Need to Eliminate the Consumer Financial Protection Bureau’
Breitbart discusses eliminating the Consumer Financial Protection Bureau with Iain Murray. Iain Murray, vice president for strategy at the Competitive Enterprise Institute, told…
News Release
White House, Congress Should Not Resurrect Failed Glass-Steagall Banking Restrictions
Statement by John Berlau, Competitive Enterprise Institute Senior Fellow: Rather than restrict services banks can provide, the White House and lawmakers should…
News Release
Delaying the Fiduciary Rule will be a Big Reprieve for Savers
The Trump Labor Department on April 5 sent the Office of Management and Budget its final rule requesting a 60-day delay for the Obama fiduciary…
Forbes
Happy 5th Birthday, JOBS Act! — Celebrate By Expanding Deregulation
After the recent failure of the Republican-sponsored “repeal and replace” health care bill, it’s hard to imagine members of this Congress coming to consensus even…
Blog
Congress Should Reject CFPB Prepaid Card Rule
One reason why the Consumer Financial Protection Bureau (CFPB) has engendered such controversy is because it was set up on a false premise. As I…
InsideSources
Counterpoint: Abolishing the CFPB Will be Good for Consumers – and the Constitution
Editor’s Note: For an alternative viewpoint, please see: Counterpoint: Abolishing the CFPB Will be Good for Consumers – and the Constitution Access to capital…
Newsmax
We Can’t Afford Cordray’s, CFPB’s Opulence
Even before its namesake ran for president, Trump Tower was seen as a symbol of the ultimate in opulence. Since the election, some have quipped…
Comment
CEI Comments to U.S. Department of Labor in Support of Proposed 60-Day Delay in Fiduciary Rule
View Full Document as PDF Dear Sir or Madam, On behalf of the Competitive Enterprise Institute, I am pleased to provide these…
Blog
Time to Repeal the Foreign Account Tax Compliance Act
FATCA amounts to a fine levied by the U.S. on any of its citizens who have the temerity to live abroad.
Blog
Help Stop Obamacare for Your IRA and 401(k)
While Congress is battling over repeal of Obamacare, President Donald Trump is setting a course to repeal a regulation that the Obama administration pushed through…
Blog
The Case against the Consumer Financial Protection Bureau: FAQ
Competitive Enterprise Institute General Counsel Sam Kazman answers 7 questions about CEI’s case against the Consumer Financial Protection Bureau, State National Bank of Big Spring…
Blog
New York’s “BitLicense” on Trial
A lawsuit again New York's “BitLicense” regulation is challenging the state's targeting of Bitcoin-based businesses.
Blog
Congress Should Overturn New Restrictions on Prepaid Debit Cards
Congress should act to stop the Consumer Financial Protection Bureau from making financial transactions more difficult for people without bank accounts.
National Review
Financial CHOICE Act Must Keep Durbin Repeal
After the repeal and replacement of Obamacare, the next big task facing Congress will be reform of the equally awful Dodd-Frank Act. House Financial Services…
Blog
Legalized Sports Betting a Sane Response to March Madness
Congress should combat fraud, blackmail, and organized crime with legalized sports betting.
Blog
Trump Budget Cuts Encouraging, Pentagon Increases Questionable
President Trump should reduce expecting spending on defense in order to boost long-term economic growth.
Forbes
‘Cordray Tower’ And Other Reasons For Trump To Fire CFPB Director Cordray
Even before its namesake ran for President, Trump Tower was seen as a symbol of the ultimate in opulence. Since the election, some have quipped…
Housingwire
Bank fights for stake in PHH case to battle CFPB authority
Housingwire discusses the PHH Corporation v. Consumer Financial Protection Bureau case with Sam Kazman. Despite motions from other parties being denied, Competitive Enterprise Institute…
Blog
Policy Background on Trump’s Joint-Session Address to Congress
Here are five areas where the administration has the opportunity to implement valuable and much-needed reforms for the American people.
Blog
Mnuchin Must Bring Transparency to Fannie Mae and Freddie Mac
Recently-confirmed Treasury Secretary Steven Mnuchin must do everything he can to reverse the extreme secrecy practiced by the Obama Treasury Department.
Wall Street Journal
Why Stop at Dodd-Frank? Some Want Trump’s Regulatory Overhaul to Go Further
The Wall Street Journal discusses revamping a provision of the Sarbanes-Oxley Act with John Berlau. The fight over the rule has been…
Blog
Five Regulatory Heartbreaks on Valentine’s Day
Tomorrow we celebrate our significant other by showering them with affection and chocolate—but is government regulation getting in the way of your date night?…
USA Today
Consumer Financial Protection Bureau could see wings clipped
USA Today discusses the Consumer Financial Protection Bureau’s Director Richard Cordray with John Berlau. It has been all over the board. Critics hope…
Blog
Sen. Elizabeth Warren Tries to Silence Fiduciary Rule Critics
Sen. Elizabeth Warren has frequently resorted to intimidation to effectively silence those with views which she disagrees. This is particularly true for critics of the…
Blog
Deregulate to Speed Recovery from ‘Creative Destruction’ of Trade and Innovation
Government regulation limits the ability of individuals and businesses to recover from normal economic setbacks.
Blog
Financial Regulation Executive Order a Step in the Right Direction
A new White House executive order aims to redesign how financial institutions are regulated by the federal government.
Blog
Smart Move for White House to Push Back on Fiduciary Rule, Dodd-Frank
President Trump’s forthcoming executive actions—expected to halt the Department of Labor’s fiduciary rule and call for review of Dodd-Frank regulations—will greatly benefit middle-class investors, entrepreneurs,…
News Release
Statement on President Trump’s Financial Regulation Executive Order
Statement from Competitive Enterprise Institute’s Iain Murray on President Trump’s Executive Order concerning regulating the financial system: “CEI welcomes today’s executive order from the Trump…
CNBC
Here’s what everybody is getting wrong about changes to banking rules
CNBC discusses repealing the Dodd-Frank Act with John Berlau. While Trump can roll back some measures through executive order, there are other provisions…
Reason.com
Frankly, Trump’s Plan To Review and Reform Dodd-Frank Makes a Lot of Sense
Reason.com discusses repealing burdensome aspects of the Dodd-Frank Act with John Berlau. Beyond the question of bailouts, reviewing and reforming the Obama administration’s…
Daily Caller
Trump Signs Executive Order To Rip Up Dodd-Frank ‘Disaster’
The Daily Caller discusses the White House halting the Department of Labor’s fiduciary rule with John Berlau. While Friday’s action establishing the framework…
Blog
Congress Should Eliminate SEC Rule that Discloses Company Information to Foreign Governments
Congress should pass a joint resolution of disapproval and block the Securities and Exchange Commission’s rule relating to ‘‘Disclosure of Payments by Resource Extraction Issuers.”…
Blog
Harry Potter and the City Council Chambers
The MacIver Institute documents the temptation of local governments to spend taxpayer money on “economic development” projects and tourist events.
Blog
Blockchain Business Council to Help Secure Property Rights for World’s Poor
The launch of the Global Blockchain Business Council at the 2017 World Economic Forum is good news for the world’s venture capitalists and poor alike.
Blog
Coalition Defends Reform of Credit Union Lending Rules
A dozen conservative and free-market groups have signed onto a coalition letter to preserve deregulation of credit union lending.
Letters
CEI Leads Coalition Opposing Repeal of Member Business-Lending Rule of the National Credit Union Administration
View Full Document as PDF Dear President-Elect Donald Trump and Vice President-Elect Mike Pence, As conservative, libertarian, and free-market organizations concerned about…
CNN Money
Trump should fire CFPB Director Richard Cordray: GOP
CNN Money discusses the president removing the Consumer Financial Protection Bureau’s director with John Berlau. However, it’s not exactly clear if Trump will…
Blog
Clayton Must Work for Both Small and Large Investors at SEC
Jay Clayton, and anyone who goes on to serve on the Commission, must advance the interests of both Main Street investors and entrepreneurs trying to…
Crowdfund Insider
Jay Clayton to Join SEC During Unprecedented Need to “Cut the Red Tape”
Crowdfund Insider speaks with John Berlau on President-elect Trump’s nominee of Jay Clayton for Securities and Exchange Commission chair. Seeking additional perspective, Crowdfund…
Blog
RealClear Radio Hour: The War on Science and the Economy
Check out RealClear Radio Hour’s last episode with free market stalwarts John Tierney and Peter Wallison.
The Wall Street Journal
Obama’s Regulations Aren’t the Only Trump Target
Overregulation didn’t start during the Obama administration. President-Elect Trump and the new Congress need to go further.
Blog
Five New Year’s Resolutions for a New Administration
Now is the perfect time for members of the incoming Trump administration to reflect on where America is and set policy goals for the coming…
Bloomberg
Make Banks Great Again? G.O.P. Push to Ax Key Agency Poses Risks
Bloomberg discusses the director of the Consumer Financial Protection Bureau with Iain Murray. “There are all sorts of risks,” said Iain Murray, vice…
CNN Money
Elizabeth Warren watchdog under siege
CNN Money discusses the Consumer Financial Protection Bureau and its director with John Berlau. CFPB Director Richard Cordray has “inundated Main Street financial…
Blog
Must-Have Gifts for America’s Wish List
It isn’t Christmas Day yet, much to the chagrin of impatient youngsters, but it’s already time for America to put together a wish list for…
Blog
Congress Needs to Fix America’s Broken Financial System
Whole forests have been cut down to print the books written about the financial crisis of 2007/8 and America’s response to it.
CNN Money
What’s the Best Way to Create More Jobs?
Unleash the power of small business. The US Senate just passed a bill called the Small Business Jobs and Credit Act. The thrust of the…
CNN Money
A Third Strike Against US Businesses
By responding hastily and irrationally to the recent upsurge in corporate indebtedness, congressional tax-writing committees might well create a major economic distortion in an already-biased…
Tulsa World
Credit Reports Used by Insurance Companies
Blog
A Free Market Policy Agenda for the Trump Administration
CEI’s free market policy agenda for the incoming Trump administration is aimed at strengthening the economy and removing barriers to economic freedom in five key…
Politico
Trump vs. Yellen
Politico's Morning Money highlights CEI's policy reform recommendations for the Trump administration. The libertarian Competitive Enterprise Institute is releasing a series of short…
Study
First Steps for the Trump Administration: Restore Financial Freedom
View full document as a PDF Over the past 15 years—beginning with the George W. Bush administration and accelerating rapidly in the…
Blog
Five Ways CFPB Regulations Harm the Middle Class
The Consumer Financial Protection Bureau (CFPB) was set up in 2010 to “make consumer financial markets work for consumers, responsible providers, and the economy as…
Blog
A Pro-Growth Agenda for the 115th Congress
At CEI, we believe a clear agenda is necessary to move America toward economic growth, prosperity, and liberty for individuals to chart their own paths…
Politico
Aggressive fight promised over Pruitt EPA nomination
Politico's Morning Money highlights CEI's financial policy priorities for the 115th Congress. CEI has a new finance/banking reform agenda for Congress out Thursday.
Blog
Treasury Nominee Mnuchin Promising on Volcker Rule and Fannie and Freddie
Steven Mnuchin would bring to the Treasury Department valuable experience managing entrepreneurial ventures and company turnarounds. He has expressed some encouraging sentiments on housing policy…
Products
Free to Prosper: Banking and Finance
View the full chapter on Banking and Finance here Access to capital is fundamental to the operation of a free society. It allows for…
Independent Journal Review
It’s Time For The New President And Congress To Think Big When It Comes To Cutting Government Waste
Political revolutions don’t come around often: Margaret Thatcher in Britain in 1979, the fall of the Berlin Wall in Eastern Europe in 1990, the Contract…
Forbes
Court Must Overturn ‘Obamacare for your IRA’
Note: This column was coauthored by Pamela Villarreal, senior fellow at the Dallas-based National Center for Policy Analysis. Access to financial advice and a variety…
The Heartland Institute
Federal Judges Demand CFPB Structure Shake-Up
The Heartland Institute discusses the Consumer Financial Protection Bureau with Iain Murray. Iain Murray, vice president of strategy for the Competitive Enterprise Institute,…
Sun-Sentinel
Five ways President Trump could jump-start economic growth
Too many Americans feel left behind by the weak economic growth and diminished job opportunities under the Obama administration. Too many people have seen their…
Blog
Free Market Opportunities for the Trump Administration
This election has given us one more demonstration that knowledge is dispersed and “trusting the experts” to know the future is foolish. The unexpected success…
Blog
Obamacare Policies Are Costly and Unpopular
Obamacare policies are unpopular, and people often dump them months later.
Blog
New Credit Union Deregulation Helps Consumers and Entrepreneurs
In my Forbes column last week, I wrote about how America’s credit unions faced massive new regulatory burdens from the Consumer Financial Protection Bureau.
Blog
5 Scariest Halloween Regulations
Regulatory dark matter is a Washington boogeyman. In 2015, there were 39 regulations for every one law passed by Congress. That’s a lot of rules…
Blog
Obamacare Increases Premiums, Reduces Employment
Health care insurance premiums will increase significantly next year as a result of the Affordable Care Act, and many consumers will be left with access…
Blog
ACLU Blasts Federal Bank Regulators for Unconstitutional Power Grab
Unaccountable agencies unsurprisingly behave in an unaccountable manner. The Consumer Financial Protection Bureau (CFPB) was recently found by a Federal court to be so unaccountable…
Forbes
Next President Should Fire CFPB’s Cordray
“You’re fired!” A certain presidential candidate made that phrase famous. But whoever is elected to the White House this November should say those words to…
National Review
Bureaucrats Threaten the Rule of Law
Donald Trump’s recent refusal to promise he’ll accept the presidential election’s result has raised much concern. Yet, there has been little outcry over Consumer Financial…
Politico
Sandberg demurs on going to Washington
Politico's Morning Money highlights Sam Kazman's reaction to the federal court's ruling on the Consumer Financial Protection Bureau. Competitive Enterprise Institute: “Today’s ruling…
National Review
CFPB “Structurally Unconstitutional” – US Court of Appeals
In a rare victory for the Constitution and American political tradition, the US Court of Appeals from the DC Circuit today found that the…
The Fiscal Times
In Win for Conservatives, Court Rules Consumer Bureau Unconstitutional
The Fiscal Times discusses with Sam Kazman, the courts ruling that the Consumer Financial Protection Bureau is unconstitutional. However, from its founding, the…
Reason
A Limited Victory for Limited Government as CFPB’s Structure Ruled Unconstitutional
Reason discusses the federal court ruling that the Consumer Financial Protection Bureau is "structurally unconstitutional" with Hans Bader. In a lawsuit challenging the…
Blog
Regulators Target Payday Loans, But Put Borrowers in a Bind
Payday loans are a form of small-dollar, short-term credit used by lower- and middle-income consumers, principally to enable them to withstand expense shocks and to…
Daily Caller
Killer New Regulations On Loans Hurt Women, Blacks The Most
The Daily Caller reports on CEI's study by Hilary B. Miller on the Consumer Financial Protection Bureau's proposed pay day lending rule. A…
Daily Caller
Killer New Regulations On Loans Hurt Women, Blacks The Most
The Daily Caller reports on CEI's study of the Consumer Financial Protection Bureau's proposed rule on payday lending. A new report Monday shows…
News Release
Borrowers in Dire Straits Over Government’s Payday Lending Restrictions, CEI Report Warns
A Competitive Enterprise Institute report released today warns that many Americans will be hurt, not helped, by new restrictions on lending imposed by the…
Blog
RealClear Radio Hour: Penniless Presidencies and Fashioning America
This week, we discuss two new books covering the national debt crisis and political values with authors Dr. Alan Axelrod and Cathy Lynn Taylor.
NewsBusters
Liberals, Media Allies Might Face Some Serious Opposition on Financial Regulation
New York State’s Department of Labor recently made headlines with its rules mandating that employers paying their workforces with prepaid debit cards ensure that employees…
Blog
Mr. Robot and the Future of Money
Last week, the cult USA channel TV show Mr. Robot showed once again why it is required viewing for anyone interested in technology.
Blog
Wells Fargo and the Principal-Agent Problem
The Consumer Financial Protection Bureau has celebrated the $100 million fine it has imposed on San Francisco bank Wells Fargo for its employees’ improper handling…
Blog
How Financial CHOICE Act Rescues Unbanked Americans
If the New York State Department of Labor is really concerned about unbanked employees being hit with fees, it should lend its support to the…
Blog
Financial CHOICE Act, Replacement for Dodd-Frank, Passes Out of Committee
The House Financial Services Committee today approved the Financial CHOICE Act (FCA) 30-26 largely along party lines.
Las Vegas Sun
Durbin amendment of Dodd-Frank a miserably bad attempt at price control
Las Vegas Sun discusses the Durbin amendment of the Dodd-Frank bill with Sam Kazman. The disappearance of free debit cards and free checking…
Blog
Federal Subsidies Won’t Promote Fair Housing
Democratic vice presidential candidate Tim Kaine recently outlined his and Hillary Clinton’s plan to promote fair housing. Basically, they want to throw money at the…
Crowdfund Insider
Will CFPB Move to Limit Arbitration Undermine Alternative Finance?
Crowdfunding Insider reports on CEI's comments on the Consumer Financial Bureau's proposed ban on arbitration regarding certain consumer financial agreements. While the intent may…
The Atlantic
Could Reviving a Defunct Banking Rule Prevent a Future Crisis?
The Atlantic features John Berlau's argument against the revival of the Glass-Steagall rule. Election years are a time when politicians put on their…
