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
Blog
Trump’s Strait of Hormuz insurance plan gambles with taxpayer dollars
As wars and skirmishes escalate, the risks to commerce increase and are reflected in market prices. In past conflicts, shipping firms faced soaring premiums as…
News Release
CEI Report: AI Industrial Policy Schemes Create “Misalignment by Design” and a New AI Welfare State
A new report from the Competitive Enterprise Institute contends the greatest risk associated with artificial intelligence is not technological misalignment but what author Wayne…
Washington Examiner
Market expectations for rate hike haunt Warsh and GOP
The Washington Examiner cites Senior Economist Ryan Young on the consumer price index: Additionally, the producer price index showed wholesale inflation shot up to a…
Search Posts
Blog
Trump’s Strait of Hormuz insurance plan gambles with taxpayer dollars
As wars and skirmishes escalate, the risks to commerce increase and are reflected in market prices. In past conflicts, shipping firms faced soaring premiums as…
News Release
CEI Report: AI Industrial Policy Schemes Create “Misalignment by Design” and a New AI Welfare State
A new report from the Competitive Enterprise Institute contends the greatest risk associated with artificial intelligence is not technological misalignment but what author Wayne…
Washington Examiner
Market expectations for rate hike haunt Warsh and GOP
The Washington Examiner cites Senior Economist Ryan Young on the consumer price index: Additionally, the producer price index showed wholesale inflation shot up to a…
Blog
Colorado legislature joins Illinois in breaking national payment system
One of the glories of the modern economy is that you can walk into a store anywhere in America, or indeed much of the world,…
Blog
Less discretion, more discipline: Three focus areas for Warsh at the Fed
New Federal Reserve Chair Kevin Warsh should focus on three dimensions of reform: how the Fed makes decisions, the size of its market footprint, and…
Bloomberg Tax
SEC Proposes Scaling Back Auditor Testing of Fraud Safeguards
Most US-listed companies would be exempt from requirements they hire an outside auditor to field test safeguards meant to ensure investors can rely on corporate…
The Chicago Tribune
Springfield’s interchange fee ban takes a costly swipe at Illinois consumers
I have many fond memories of growing up in the Chicago suburbs, including eating out at Lou Malnati’s, visiting Chicago museums on weekends and tagging…
Blog
How the Bank Holding Company Act helped shape modern banking consolidation
Back in the 1950s, Congress feared a future in which a small number of powerful banking organizations would dominate the financial sector. Policymakers…
News Release
April PPI shows inflation still a major problem for the Fed and the economy: CEI analysis
The April Producer Price Index (PPI) shows a 1.4 percent jump, the largest increase since 2022. Inflation remains a stubborn issue for the Federal…
Blog
Deputizing banks for citizenship verification could halt America’s financial greatness
A few weeks after he was confirmed as Treasury secretary last year, Scott Bessent delivered a message to the American Bankers Association that regulatory relief…
News Release
Inflation increases again in April, no end in sight for higher energy prices: CEI analysis
The Consumer Price Index for April shows inflation increased by 0.6 percent across all sectors, slightly lower than March’s 0.9 percent but still indicates…
News Release
SEC seeks end to quarterly reporting mandate: CEI analysis
The Securities and Exchange Commission today proposed to end mandatory quarterly reporting for public companies and switch to semiannual reporting. “The SEC has made…
Blog
CEI leads coalition supporting OCC preemption of Illinois Interchange Fee Prohibition Act
CEI today sent a letter to Jonathan Gould, the Comptroller of the Currency, cosigned by 22 other free market groups, supporting his office’s efforts…
Letters
CEI Leads Coalition Letter Supporting Preemption of the Misguided Illinois Interchange Fee Prohibition Act
Dear Comptroller Gould, On behalf of our organizations and the members they represent, we write to support your office’s moves to preempt the Illinois Interchange Fee Prohibition Act…
Comment
CEI comments on OCC’s proposed implementation of GENIUS Act stablecoin regulation
Dear Comptroller Gould:On behalf of the Competitive Enterprise Institute, I appreciate the opportunity to submit comments on OCC-2025-0372, the OCC’s Notice of Proposed Rulemaking implementing…
Blog
The limits of balance sheet runoff at the Fed
At his confirmation hearing last week, Kevin Warsh called for a smaller Federal Reserve balance sheet. This statement revives debate over how the Fed…
News Release
Fed keeps a hold on interest rates for now, debate on balance sheet a highlight for next Fed Chair-hopeful Warsh: CEI analysis
The Federal Reserve has decided to keep interest rates steady, aligning with economists’ and financial analysts’ predictions. With the Senate Banking Committee voting to…
Blog
A quantitative easing hangover has the Fed in a balance sheet trap
As Kevin Warsh undergoes the Fed Chair confirmation process, debate has returned to the Federal Reserve’s balance sheet and how it should be managed going…
Blog
Quantitative easing and the Fed’s free lunch problem
As Kevin Warsh undergoes his confirmation process for Fed Chair, one of the most consequential yet least straightforward issues in modern monetary policy is returning…
News Release
Fed Chair nominee Warsh has mixed signals in Senate hearing
Kevin Warsh’s confirmation hearing for Federal Reserve Chair in the Senate today prompted questions about future Fed policies. While his testimony had promising signals, several…
Blog
Forward guidance is not a crystal ball: A case for rules-based monetary policy
Throughout history, the urge to predict the future has been hard to resist. The Federal Reserve is not immune to such temptation. In recent years,…
Blog
From lifeline to lifestyle: How quantitative easing became the Fed’s default setting
The nomination of Kevin Warsh has renewed scrutiny of the Federal Reserve’s expanding role in the economy. One of the most consequential shifts in US…
Blog
Dual mandate, dual headache: Why the Fed should focus on price stability
With Kevin Warsh set to appear before the Senate for his Fed confirmation hearing, the question of his monetary priorities is taking center stage. Warsh…
Blog
Questions Kevin Warsh needs to answer if he is to become the next Fed Chair
A new CEI paper out today by John Berlau, Ryan Young, and myself offers some questions that Federal Reserve Chair nominee Kevin Warsh should…
News Release
Report: Senate questions for Fed Chair nominee Kevin Warsh
As the US Senate prepares to consider the nomination of Kevin Warsh to head the Federal Reserve, the Competitive Enterprise Institute today offered lawmakers a…
Study
Questions for Kevin Warsh
Kevin Warsh is President Trump’s choice to succeed Jerome Powell as the Chair of the Board of Governors of the Federal Reserve System. Warsh’s credentials…
News Release
Energy and oil prices driving force behind March inflation increase: CEI analysis
The Consumer Price Index (CPI) report for March shows a 0.9 percent increase across all sectors, mainly driven by significantly higher energy and oil…
News Release
Federal Reserve keeps interest rates steady, higher inflation likely to continue: CEI analysis
The Fed has decided to keep interest rates steady, with inflation still too high to warrant rate cuts. With Fed Chairman Jerome Powell’s term…
News Release
SEC to seek end to quarterly reporting mandate: CEI analysis
The Securities and Exchange Commission will propose to end mandatory quarterly reporting for public companies, and give companies the option to file semi-annually instead, according…
The National News Desk
Inflation steady in February, but war risks new price surge
The National News Desk cited CEI’s expert on CPI data “The longer the Strait of Hormuz remains closed, the greater the upward pressure on energy…
News Release
Inflation increases in February, predates new soaring energy prices: CEI analysis
The Consumer Price Index report for February shows a 0.3 percent increase across all sectors. The increase predates the escalation in the Middle East,…
Blog
The Senate housing bill’s road to socialism
In the last week of February, I expressed hope that members of Congress would “embrace free-market proposals to advance opportunities in the housing sector”…
Reason
Fight Government Corruption With Deregulation
Reason cited CEI’s expert on regulatory budgets “When regulatory systems become dense, opaque, and discretionary, they create perverse incentives for corruption,” Steve Swedberg, a regulatory…
The Washington Examiner
Credit card companies are easy to vilify, but the wrong target for consumer ire
The Washington Examiner cited CEI’s expert on financial policy. John Berlau, a senior fellow at the Competitive Enterprise Institute, said entrepreneurs turned to credit…
Blog
Cut the steel, cut the cost: Why Congress is right to scrap the chassis mandate
If buying a home in the US feels more expensive, that is not merely your imagination. A Harvard University study found that national single-family home…
News Release
Federal regulator fights state regulation of prediction markets – a gain for ordinary entrepreneurs and investors
Today, Commodity Futures Trading Commission Mike Selig announced actions to attempt to block state regulation of prediction markets that offer contracts on sports and political…
News Release
Inflation rose 0.2 percent in January, year-over-year numbers still above Fed’s target rate: CEI analysis
The Consumer Price Index report for January shows inflation rose 0.2 percent, lower than economists’ predictions. Inflation year-over-year remains above the Federal Reserve’s 2…
News Release
Housing bill aids affordability through deregulation
Last night, the U.S. House of Representatives passed by 390-9 the bipartisan Housing for the 21st Century Act. CEI scholars highlight the bill’s most…
Blog
Congress keeps propping government-backed deposit insurance up, risk keeps rising
On Sunday, the Federal Deposit Insurance Reform Act of 2005 marked its 20th anniversary. This Act consolidated the Bank Insurance Fund and the Savings…
News Release
Fed stays the course on fighting inflation and proving its independence: CEI analysis
The Federal Reserve has decided to not move interest rates, an expected decision that signals the Fed’s independence and its continued fight against inflation. CEI…
Blog
Durbin-Marshall’s new provisions enable lawfare from state AGs
Even though President Trump unfortunately endorsed earlier this month the Credit Card Competition Act (CCCA) – a bill that attempts to force down fees that…
Newsweek
What Trump’s Housing Executive Order Means for Mortgages
Newsweek cited CEI’s expert on mortgage costs However, John Berlau, financial policy director at the Competitive Enterprise Institute, called Trump’s proposal “misguided” and told Newsweek…
The Washington Post
Trump has lurched to the populist Left with recent economic proposals
The Washington Post cited CEI’s expert on financial policy “It won’t get to the root of the government-induced housing shortage, it will make things…
Blog
Trump’s credit card interest rate cap would kneecap everyday Americans
Credit cards are an indispensable tool in the modern economy. Most adults use them for everyday purchases, emergency spending, and managing cash flow. Yet more…
Blog
Politicians need to think beyond stage one on credit card price controls
President Trump, in a Friday news dump on social media, proposed price controls on credit card interest rates. He wants to cap annual rates…
Washington Examiner
Trump plan to bar institutional investors from homebuying faces free-market skepticism
The Washington Examiner cited CEI’s expert on housing shortage. “It won’t get to the root of the government-induced housing shortage, it will make things worse,”…
News Release
Trump ban on institutional investors will harm housing affordability
President Trump today called for a government ban on “large institutional investors” purchasing single-family homes. While the ban may be aimed at making housing…
Blog
HSAs: A silver bullet for the silver loading conundrum
After the longest government shutdown in American history — ostensibly caused by the expiration of the expanded Obamacare subsidies — Republicans have debated health care…
Blog
Let’s resolve to repeal Durbin’s debit card interchange price controls in 2026
One safe New Year’s political prediction is that the fight between retailers and financial institutions over so-called swipe fees will continue. The debate has raged…
Blog
Possible Fed pick Warsh has government-backed crypto problem
Kevin Warsh, financial executive and former Federal Reserve governor, is now reportedly among the top contenders being considered to replace Jerome Powell as Fed chairman.
News Release
Rescheduling marijuana to a less restrictive category will benefit liberty and public health
President Trump signed an executive order today intended to fast track the rescheduling of cannabis from a Schedule I substance, the same as heroin,…
Blog
Government shouldn’t engage in debanking or forced banking
December is turning into a month in which Congress and Trump administration financial regulators are attempting to tackle debanking – the closure of accounts or…
News Release
Inflation increased by 0.2 percent in November but year-over-year inflation remains above the Fed’s target
The Consumer Price Index (CPI) report for November showed a 0.2 percent increase in inflation across all sectors, lower than market expectations. But the…
Blog
Debanking flows downhill from progressive policymakers
The US Office of the Comptroller of the Currency (OCC), a leading federal financial regulator, has released preliminary findings from its review of debanking…
Letters
CEI Joins Center for Freedom and Prosperity to Highlight Urgent Need for Reform at the SEC
Dear President Trump: We are writing to highlight an important issue that directly impacts your administration’s efforts to democratize access to the alternative investments in…
Blog
DOGE cancellation theatrics change nothing in the regulatory power game
“Trump administration officials have not openly said that DOGE no longer exists.” That admission came 10 paragraphs into a widely reported “exclusive” Reuters story claiming…
Blog
CEI warns House committee of dangers of deposit insurance hike
Starting with our late founder and president Fred Smith, CEI has long warned of the risks posed by government-provided deposit insurance to the nation’s banks.
Blog
Bank regulators repeal intrusive ESG guidance
The Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board of Governors (Fed Board) withdrew their controversial interagency guidance on climate financial risks on…
Blog
A tariff-funded UBI? Trump just gave progressives their blueprint
Donald Trump’s pitch for a $2,000 “tariff dividend” check to be issued sometime next year (during election season) is being marketed as a windfall…
Comment
The Future of Deposit Insurance: Assessing Coverage Levels, Systemic Costs, and Depositor Confidence
Hearing Entitled: The Future of Deposit Insurance: Exploring the Coverage, Costs, and Depositor Confidence Dear Chairman Hill and Ranking Member Waters, On behalf of the…
News Release
Visa and Mastercard settlement with US merchants will cause confusion for consumers and harm community banks
Visa and Mastercard have reached a settlement in their 20-year-long legal battle with US merchants. The settlement gives merchants the ability to reject reward-based credit…
News Release
CFPB budget woes underscore fundamental problems with bureau’s set up
The Consumer Financial Protection Bureau (CFPB) may run out of money soon, according to news reports. The bureau has been controversial from the start due…
Blog
CFPB must withdraw open banking rule to protect innovation and consumer choice
On October 21, John Berlau, senior fellow and director of finance policy at the Competitive Enterprise Institute, submitted a comment letter to the Consumer…
Comment
Comments urging withdrawal of Chopra CFPB open banking mandate
Dear Acting Director Vought: On behalf of the Competitive Enterprise Institute, I appreciate the opportunity to submit comments on RIN 3170-AB39, CFPB’s reconsideration of issues…
Letters
CEI joins coalition Letter against caps on stablecoin rewards
RE: Coalition in Support of Preserving Consumer Rewards and Competition in Digital Asset Legislation Dear Chairmen Scott and Boozman, Ranking Members Warren and Klobuchar, and…
Blog
Katie Porter’s exchange with CFPB’s Kraninger revisited amid new revelations
A recently surfaced clip of former Rep. Katie Porter (D-CA) has sparked a firestorm online. In a newly revealed 2021 video revealed published by…
Blog
The problem with Obamacare is Obamacare
This year, the COVID-induced expansion of the Affordable Care Act (ACA) will expire. Extending the expanded subsidies has become a point of contention between Republicans…
Letters
CEI joins a coalition in Protecting Consumer Data: Why the CFPB Must Abandon Biden’s Flawed Open Banking Rule
Dear Acting Director Vought: We commend the bureau for acknowledging the flaws in the Personal Financial Data Rights rule promulgated under the Biden administration. We…
Blog
The week in regulations: Poultry improvement and painful scars
The federal government shut down on Wednesday. Thursday’s Federal Register had 60 final regulations; normal is about 10. Defense Secretary Pete Hegseth flew in hundreds…
Blog
Trump 401(k) EO helps equalize access to alternative assets
For more than a decade at CEI, I have argued that holders of 401(k)s and other defined-contribution plans should have maximum choice in the investments…
News Release
Inflation increased 0.4 percent in August, all eyes on the Fed’s next move: CEI analysis
The Consumer Price Index report for August showed a 0.4 percent increase in inflation across all sectors. With Trump’s Liberation Day tariffs being implemented…
Letters
CEI joins coalition with TPA in Opposition to Increasing FDIC Deposit Insurance Limits
Dear Chairs Scott and Hill, and Ranking Members Warren and Waters, We, the undersigned organizations, representing millions of taxpayers and consumers nationwide, write to express…
Blog
The beginning of the end for net-zero financial alliances
At the height of the COVID-19 pandemic, many of the world’s premier financial institutions formed bold climate finance coalitions. The most notable of these was…
Forbes
When Washington Buys Intel, It Owns You Too
The past week has seen many decrying the folly of government picking winners in business. But the Trump administration’s announcement of an 8.9 percent …
Blog
Trump EO on debanking is a mixed bag for financial freedom
President Trump’s new Executive Order (EO) on debanking correctly decries the weaponization of the financial regulation, and contains many good provisions preventing government regulators…
News Release
Interest rates not budging, Fed to focus on inflation not stimulus: CEI analysis
The Federal Reserve announced today that they are holding steady on interest rates in a continued effort to combat inflation. CEI senior economist…
Issues and Insights
Congress Misses Opportunity To Repeal IRA Stock Buyback Tax
Republicans hailed the One Big Beautiful Bill for achieving tax cuts and spending reductions. Despite this victory, the bill was missing a fix for an unwarranted…
Blog
Favorable selection in Medicare Advantage can’t be managed from the top
A previous post covered how the Centers for Medicare & Medicaid Services’ (CMS) attempts to mitigate upcoding have been unsuccessful. Another often-decried activity…
RealClear Markets
Michelle Bowman’s Reforms Will Help Reverse Dodd-Frank Damage
America’s community banks are disappearing and forming more infrequently. These local lenders once dotted every city and small town, offering small business loans, farm credit,…
Blog
Dodd-Frank 15 years later: How financial regulators leveled up
The leadup to Dodd-Frank This month marks the 15th anniversary of the Dodd-Frank Wall Street Reform Act. This law was enacted in the wake…
RealClear Markets
Book Review: Norbert Michel & Jennifer Schulp’s ‘Financing Opportunity’
America is the wealthiest nation on earth, with financial markets that are the envy of the world. Those markets have contributed to America’s rise for…
Blog
House should follow Senate in slashing BBB’s remittance tax–or eliminate it entirely
President Trump has made it clear that he wants a budget reconciliation package on his desk by July 4. In its final version of the…
Daily Calller
Social Security Now Headed For Insolvency Even Sooner Than Expected
Daily Caller cited CEI’s experts on Social Security spending Congress can’t keep dodging entitlement reform. Social Security’s $28 trillion in unfunded liabilities is about the…
Blog
GENIUS Act needs free market fixes before it graduates to law
Yesterday, the US Senate voted to approve a regulatory regime for stablecoins. This vote represents one of the most significant milestones for cryptocurrency since the…
News Release
Courts should allow CFPB to vacate case against small mortgage firm
U.S. District Judge Franklin Valderrama on June 12 denied a request by the Consumer Financial Protection Bureau to vacate a Biden-era settlement against the Chicago-based mortgage…
News Release
Inflation increased 0.1 percent in May, less severe than previous months: CEI analysis
Today, the Consumer Price Index report for May showed inflation increased across all sectors by 0.1 percent, compared to 0.2 percent in April. CEI…
Politico
The lose-lose housing market
Politico cited CEI’s coalition letter addressing prediction markets First in MM: Free market advocates want to free the betting markets — More than a dozen…
Blog
Don’t socialize health care through private insurance
Four senators have introduced the “Supporting Healthy Moms and Babies Act,” which would mandate full coverage, no copays, no out-of-pocket costs for beneficiaries…
Blog
The week in regulations: Postage prices and outdoor burning
Former President Joe Biden announced a cancer diagnosis. The House passed a big spending bill. A political activist murdered a young Jewish couple. Agencies issued…
Citation
Newsom Looks To Extend Carbon Cap Policy, Fund Rail Boondoggle As Possible Gas Crisis Looms
Daily Caller cited CEI’s expert on gas prices “California refining capacity is dying, it is dwindling,” Marlo Lewis Jr., a senior fellow at the Competitive…
Testimony
Testimony of John Berlau: Enhancing Competition: Shaping the Future of Bank Mergers and De Novo Formation
Chairman Barr, Ranking Member Foster, and honorable members of this Subcommittee, thank you for this opportunity to present testimony on behalf of my organization, the…
PYMNTS
Bankers Tell Congress Regulation Hinders M&A and ‘De Novo’ Formation
PYMNTS cited CEI’s expert on bank mergers and de novo banks “In every business sector, new entrants are essential to the functioning of a competitive,…
Blog
Under Biden or Trump, taxing carried interest is stupid and destructive policy
No matter who’s in charge of the presidency or Congress, flawed proposals to close the so-called carried interest loophole just keep coming back. News outlets…
Letters
CEI joins ATR to Protect Taxpayers Wallets
Dear Members of Congress, Taxpayer dollars should benefit Americans, not subsidize organized labor. Under current law, federal employees can continue to earn their taxpayer-funded salaries…
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…
Letters
CEI joins National Taxpayers Union coalition letter in support of H.R. 640 and S. 615, Chemical Tax Repeal Act of 2025
Dear Chairman Smith, Ranking Member , Chairman Guthrie, Ranking Member Pallone, Chairman Crapo, Ranking Member Wyden, Chairman Capito, Ranking Member Whitehouse, and Members of the…
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…
Letters
CEI joins National Taxpayers Union on revised Senate Budget
Dear Leader Thune: On behalf of the undersigned organizations, we write in support of your decision to bring a revised budget to the floor of…
News Release
CFPB seeks to un-do lawsuit against small mortgage firm: CEI statement
The Consumer Financial Protection Bureau this week took the unusual step of requesting to vacate a lawsuit and settlement penalizing a small Chicago-based mortgage…
