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Three consequences of Illinois’ interchange fee law
In my new CEI paper, I examine the Illinois Interchange Fee Prohibition Act and what policymakers can learn from previous efforts to restrict…
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Report: Government limit on credit card interchange fees undermines consumers, small businesses
A new Competitive Enterprise Institute report examines an Illinois law that will limit credit card interchange fees paid by merchants to the banks and credit unions that issue…
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Federal Reserve moves to keep interest rates steady during its June meeting: CEI analysis
The Fed has decided to keep interest rates where they are, signaling the focus is still on economic uncertainty and asserting its independence…
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Don’t Save Restaurants by Shafting Consumers
Restaurants are among the hardest—if not the hardest—hit of industries impacted by the COVID-19 pandemic. Like other industries, restaurants are lobbying Congress and state legislatures…
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As Supreme Court Debates CFPB Constitutionality, Agency Accountability Hangs in the Balance
The Supreme Court heard oral arguments last week over the constitutionality of the Consumer Financial Protection Bureau and whether, as currently structured, it is too…
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SEC’s Proposed Rules Would Take ETFs out of the Hands of Middle-Class Investors
CEI recently signed on to a coalition letter encouraging the Securities and Exchange Commission to abandon its plans to further regulate certain financial products and…
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Chairman Crapo Offers Hope for Safe Banking in Controversial Industries
Last October, the House passed the Secure and Fair Enforcement (SAFE) Banking Act to provide safe harbor for banks and credit unions doing business with…
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Democratic Witnesses Oppose Interest Rate Cap
American Banker ran a piece last week on a proposed law to impose an interest rate cap on small-dollar loans. While the hearing revealed the…
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Interest Rate Caps Harm Financial Inclusion; Bank Partnerships Spread Inclusion Around
The House Financial Services Committee held a hearing last week on small-dollar lending and proposed legislation that would limit the interest rates on such loans.