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
News Release
Inflation drops some in June, does not yet indicate inflation relief is here to stay: CEI analysis
The Consumer Price Index report for June fell 0.4 percent, mostly canceling out May’s 0.5 percent increase. While this may provide some immediate…
Blog
Lessons Kevin Warsh can learn from the late Alan Greenspan
Alan Greenspan’s recent passing provides an opportunity to reassess his legacy as Chairman of the Federal Reserve and consider the lessons Kevin Warsh can…
Blog
Before reform comes review: What Warsh’s task forces could mean for the Fed
Major institutional reforms rarely begin with sweeping policy changes. More often, they begin with a willingness to reexamine long-standing assumptions. That is what makes…
Search Posts
NewsTalk STL
AUDIO: Ryan Young Joins NewsTalk STL to Discuss Inflation
Senior Fellow Ryan Young joins NewsTalk STL to discuss inflation rates: NewsTalk STL ·…
Blog
New Federal Reserve Study Is Surprisingly Upbeat on Stablecoins
Amid the Biden administration’s onslaught against cryptocurrencies, new research from the Federal Reserve surprisingly paints stablecoins in a positive light. In a new…
The Washington Times
Fed Discussion Should End on Central Bank Digital Currencies
Stablecoins may be a recent invention, but already it’s a type of cryptocurrency that empowers people worldwide and increases global prosperity, making it possible…
News Release
Inflation Rise Should Trigger Response by Fed, Congress, President
Inflation is on the rise again, hitting the highest mark in 40 years, according to government figures. CEI Senior Fellow Ryan Young says the…
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…
News Release
A Government Central Bank Digital Currency Would Pose Big Risk to Financial Sector, Economy
The U.S. should not approve a central bank digital currency (CBDC), a new Competitive Enterprise Institute report argues. “CBDCs could hand the…
Study
Central Bank Digital Currencies Threaten Global Stability and Financial Privacy
Executive Summary As digital currencies go mainstream around the world, governments and international financial bodies are seeking to develop ways to regulate them. Some…
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…
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…
Letters
CEI and Other Organizations Urge Support for Pro-Growth ALIGN Act
Dear Chair Wyden, Chair Neal, Ranking Member Crapo, Ranking Member Brady, and Members of the Senate Committee on Finance and House Committee on Ways…
News Release
Federal Reserve Signals Interest Rate Hike to Fight Inflation: CEI Statement
The Federal Reserve today signaled an interest rate hike is coming in March to combat inflation. CEI Senior Fellow Ryan Young believes the…
CoinDesk
Professor Gensler Gets an F on Crypto
Crypto insiders lauded Gary Gensler’s nomination to chair the Securities and Exchange Commission (SEC) last February. They thought the Massachusetts Institute of Technology professor…
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…
News Release
Fed Plans for Central Bank Digital Currency Pose Big Risk to Financial Sector, Economy
The US Federal Reserve today published a discussion paper on central bank digital currencies or CBDCs, signaling policymakers’ ambitions to start one. CEI expert Paul Jossey, author…
Blog
Six Myths about Bitcoin Energy Use
Newsweek: Bitcoin Mining on Track to Consume All of the World’s Energy by 2020 Bloomberg: What if there were a safe…
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…
Blog
Equity Crowdfunding Success Should Spur Further Deregulation
Equity Crowdfunding (Reg CF), the innovative tool that allows middle class people to invest in early-stage companies, has now topped $1.1 billion in…
News Release
Inflation Hits 40 Year High, but Policymakers Can Fix It
Inflation is up, again, the Bureau of Labor Statistics reports today. The Federal Reserve has a clear job to do, but Congress and…
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…
Fintech Zoom
Regulatory Sandboxes Give States an Edge Attracting Innovation and Investment
Fintech Zoom cites CEI’s Ten Thousand Commandments: The latest edition of the Competitive Enterprise Institute’s 10,000 Commandments, an annual report on…
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…
Blog
The SEC’s Irrational Fear of Bitcoin
“The Commission has no basis for the position that investing in the derivatives market for an asset is acceptable for investors while investing in…
Blog
Policy Makers Should Allow Stablecoins to Thrive
The Senate Committee on Banking, Housing, and Urban Affairs will convene a hearing on stablecoins today. Congress should focus on the many benefits this…
Blog
Can Pensions Be Saved from Political Mismanagement?
The Department of Labor is currently working on a new rule that would give pension fund managers greater leeway in considering non-financial criteria…
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.
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…
News Release
Fed Chairman Powell Should Prioritize Getting Inflation Under Control
President Biden has re-nominated Jerome Powell to head the Federal Reserve, and CEI Senior Fellow Ryan Young expressed hope that Powell will make the…
Blog
Biden Administration Seeks to Punish Stablecoin Success
Stablecoin market capitalization has risen by 500 percent in past 12 months. The growth aligns with growing interest in transacting outside heavily regulated…
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…
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…
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…
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…
News Release
Inflation Hits High Mark with Consumer Price Climb in October 2021, but Policymakers Can Take Steps to Help: CEI Statement
Bad news for consumers – prices rose 0.9 percent in October and to a 30-year high, according to data released today by the…
Op-Eds
Big government spies on your bank account
REPOST: Drew Ferguson’s piece at the Washington Examiner, as part of their Restoring America Project…
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…
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…
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…
Letters
CEI Joins Coalition Opposing the Wall Street Looting Act
Dear Senators Warren & Kennedy, We are writing to express our concern about the upcoming hearing in the Senate Banking Economic Policy Subcommittee…
KEPR TV
IRS monitoring $600 accounts likely to snare small businesses, under-the-table workers
KEPR TV cites Senior Attorney Robert Carter on the proposal for the IRS to monitor accounts over $600: The administration has…
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…
Letters
Coalition Letter to Senate re Tax Preparer Licensing
Dear Senator: We write to urge you to oppose all proposals, including H. R. 4184 and similar legislation that may be introduced…
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…
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…
Blog
IRS Needlessly Chases Minnows to Catch Whales
As part of its Fiscal Year 2022 Revenue Proposals, the Internal Revenue Service (IRS) has asked Congress to authorize a sweeping new financial…
Letters
CEI Joins Coalition Letter Opposing IRS Financial Reporting Requirement
The undersigned organizations write in opposition to the proposed new reporting regime to have the IRS collect the account inflows and outflows for bank,…
Blog
CEI Files Legislative Proposals to Rescue Crypto
On Monday, the Competitive Enterprise Institute responded to Sen. Patrick Toomey’s (R-PA) request for proposals to clarify laws around cryptocurrency and blockchain…
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…
Inside Sources
People Have Few Protections Against Law Enforcement Civil Asset Forfeiture Practices
Imagine a world where police officers regularly confiscate property from civilians, based only on officers’ accusations of criminal conduct. Imagine that these allegations are…
Comment
CEI Feedback on Clarifying Laws Around Cryptocurrency and Blockchain Technologies
Competitive Enterprise Institute 1310 L Street NW, 7th Floor Washington, DC 20005 U.S. Senate Committee on Banking, Housing, and Urban Affairs…
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…
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…
News Release
Latest Producer Price Index Indicates Inflation Too High
The government’s latest numbers on average changes in prices, as measured by the Producer Price Index (PPI), are up at an annualized rate of…
Crowdfund Insider
Perspective: Crypto Should Divorce From the Progressive Movement
Progressives should love cryptocurrency, the latest innovation that brings power to the people. Turns out, they don’t. Perhaps surprisingly, it is precisely because crypto…
Blog
Web 3.0 Requires New Regulatory Thinking
“[A] digital economy isn’t simply an industrial economy on the internet.” The Blockchain Innovation Hub at the Royal Melbourne Institute of Technology in Australia…
Letters
Congress Must Protect U.S. Employers by Passing the Save Local Business Act (H.R. 3185/S. 1636)
Dear Member of Congress, On behalf of the undersigned organizations and the millions of members, supporters and activists across America whom we collectively…
Blog
No, Crypto Is Not a Criminal Haven
“In 2020, the criminal share of all cryptocurrency activity [was] just 0.34%, or $10.0 billion in transaction volume.” This finding by crypto intelligence…
Blog
New Inflation Numbers: Still High, Still Fixable
July’s inflation numbers are out. The annualized Consumer Price Index came in at 5.4 percent, compared to a 2 percent target. The month-to-month…
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…
Blog
CEI’s John Berlau Testifies at House Hearing on Solutions for the Unbanked
On Wednesday, July 21, CEI Senior Fellow John Berlau testified before the House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions on…
CoinDesk
Gary Gensler’s Insane Crypto Policy
Does cryptocurrency need new regulatory disclosure mandates from Washington, D.C., to be of service to consumers? No, but that is what Securities and Exchange…
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…
Letters
CEI Joins Coalition Letter : Re: Wyden-Lummis-Toomey Amendment to H.R. 3684
Dear Majority Leader Schumer and Minority Leader McConnell, The undersigned organizations—which include nonprofits, trade associations, and individual companies that participate in the United…
Letters
CEI and Other Organizations Sign Coalition Letter Supporting the Wyden-Lummis-Toomey Amendment
Dear Majority Leader Schumer and Minority Leader McConnell, The undersigned organizations—which include nonprofits, trade associations, and individual companies that participate in the United…
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…
Blog
Has Bitcoin/Crypto Failed as Money?
“[I]t’s not that [cryptocurrencies] didn’t aspire to be a payment mechanism; it’s that they’ve completely failed to become one except for people who desire…
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…
Letters
Coalition Letter of Opposition Interest Rate Cap
Dear Chairman Brown and Ranking Member Toomey, On behalf of our organizations and the millions of American individuals, families, and business owners we…
National Review
Bitcoin Gets ESG’d
The Environmental, Social, Governance (ESG) movement is coming for Bitcoin and a host of other cryptocurrencies. This latest iteration of the corporate-responsibility movement has successfully…
CoinDesk
Washington Should Let DeFi Succeed
A new form of consumer finance could upend the entire banking and finance system that’s plagued by expensive fees, limited “bankers hours,” public mistrust,…
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,…
National Review
Forecast for the SEC: Storm’s a Comin’
The Biden-era Securities and Exchange Commission, led by Chairman Gary Gensler, has a lot on its plate, including potential action on everything…
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…
Blog
SEC Discovery Tactics Belie Lofty Pronouncements in Ripple Case
The Securities and Exchange Commission (SEC) has gotten away with questionable investigation and litigation methods for years. The Commission’s Enforcement Division tactics are so…
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…
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…
Letters
CEI Leads Coalition Letter Opposing House Vote on Resolution to Overturn OCC “True Lender” Rule
View Full Document as PDF Dear Speaker Pelosi and Minority Leader McCarthy, As leaders of conservative and free-market groups who…
Real Clear Markets
Eager to Protect Small Investors, Gary Gensler Leaves Them Scraps
In a rush to protect retail investors, new Securities and Exchange Commission Chair Gary Gensler is promoting ill-considered policies that will undermine everyday investors.
Blog
Digital Yuan Threatens Global Freedom
“[Bitcoin] is an escape hatch from tyranny and nothing less than freedom money.” – Alex Gladstein, Human Rights Foundation The world…
National Review
The House Must Be True to the Credit Needs of American Families and Entrepreneurs
As America shows its resilience and recovers from a devastating pandemic, many American families and entrepreneurs need credit to rebuild their lives…
National Review
Central Bank Digital Currency: The Fed’s Coming Power Grab
Recent volatility in cryptocurrencies such as Bitcoin, Ether, and Dogecoin has emboldened the Biden administration and congressional Democrats to call for government regulation of digital…
Reason
Sports Betting Pays Off
Reason cites Senior Fellow Michelle Minton on sports betting: “There is nothing criminals like more than a large, unregulated betting market…
Blog
Should the SEC Require More Climate Data from Public Companies?
This week, Case Western Reserve University law professor (and CEI alum) Jonathan Adler hosted a fascinating event titled “Climate Change, Financial Markets…
Blog
Federal Interest Rate Cap and Overturning of “True Lender” Rule Threaten Credit Innovation
On May 11, the U.S. Senate passed a measure, which, though sold as stopping “predatory lenders,” would greatly limit access to credit from solid…
The Center Square
Conservatives Raise Alarm Over Potential for Hidden ‘Biden Tax’ for Middle Class, Poorer Americans
The Center Square cites Senior Fellow Ryan Young on inflation: “Yes, inflation is a tax, and yes, an uptick in inflation…
Blog
Why Policy Makers Should Consider Expanding Financing and Exit Options for Startups
Last month, the online chat startup Discord halted accepting bids for a potential acquisition. Suitors included Microsoft, which had offered to acquire the…
News Release
House Financial Services Committee Should Look for Ways to Empower Middle Class Investors Post-Gamestop Controversy
A House Financial Services Committee hearing revisits GameStop-Robinhood-Reddit controversy from February, in which ordinary retail investors – fueled by social media-platforms – bested hedge…
Blog
Biden’s Carried Interest Tax Would Force All Partnerships to Carry Big Burden
“The Biden administration and its allies excel at leveraging crises to expand government,” observes my CEI colleague Wayne Crews on the Biden “infrastructure”…
Blog
Don’t Fear Crypto Dip; Fear Regulations that Will Harm America’s Cryptocurrency Lead
After a massive runup for the past few months, the cryptocurrency market experienced a slight dip over the past week and a half. This…
News Release
House-passed SAFE Banking Act Would End Federal Threat to Banks Dealing with Legal Cannabis Businesses
The House has passed a bill allowing banks to do business with cannabis companies, the SAFE Banking Act. While Senate action on the…
News Release
Regulators Should Let Cryptocurrency Firms Follow in Coinbase Footsteps
The successful cryptocurrency exchange platform Coinbase is poised to go public on April 14 amid high anticipation. CEI Senior Fellow John Berlau urges…
Forbes
The Growth-By-Deregulation Alternative To Joe Biden’s Cyclopean American Jobs Plan
Sandwiched between Joe Biden’s $1.9 American Rescue Plan and a promised American Families Plan is the American Jobs Plan (…
Blog
LBRY Cryptocurrency Prosecution Shows SEC’s Misplaced Priorities
The Securities and Exchange Commission (SEC), without authorization from Congress or from formal rulemaking, continues its punitive push against blockchain-based companies that sell native…
Blog
New CEI Paper Revisits Viral Exchange on Payday Loan Rates by Katie Porter and Kathy Kraninger.
It’s not every day an exchange about a technical measurement for loans goes viral on social media. During a 2019 House Committee on…
Inside Sources
Government Mandates for APR Calculations on Small-Dollar Loans Mislead Consumers
As public health turns a corner and the travel industry begins to recover, imagine if the federal government were to impose a crazy rule…
Study
The Annual Percentage Rate Is the Wrong Metric for Assessing the Cost of a Short-Term Loan
Think calculating the cost of a loan is simple? Not under the longtime rules of the federal government and many states. Consider the following…
News Release
Report: APR Calculation Misleading as Applied to Short-Term Loan Costs
A new Competitive Enterprise Institute report criticizes efforts by lawmakers and activists to impose a cap on small-dollar, short-term loans based on a…
Blog
The London Stock Exchange Needs Dual-Class Ownership to Compete with New York and Amsterdam
Notwithstanding London’s status as a global financial center, the London Stock Exchange’s (LSE) inflexible listing rules constrain the city’s ability to attract high-growth…
Comment
Comments to Financial Crimes Enforcement Network on Regulation of Cryptocurrency Wallets
View Full Document as PDF Comments of the Competitive Enterprise Institute To the Financial Crimes Enforcement Network In…
Small Business Advocate
AUDIO: How Much Does Private Crypto-Currency Threaten Sovereign States?
Senior Fellow John Berlau joins Jim Blasingame to debate the influence private cryptocurrencies could have on the marketplace, our relationship with government, and the…
