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Want higher air fares? Overregulate credit cards
This morning, the Consumer Financial Protection Bureau and the Department of Transportation are holding a joint hearing “investigating” airline and credit card reward programs.
American Institute for Economic Research
Biden Redoubles Effort to Crush Crypto With EIA’s Mining Survey
The Biden administration has launched yet another attack against the cryptocurrency industry–an environmental impact “survey” to bolster a politically motivated attack on the crypto mining…
Reason
Inflation Is So Back
CEI’s Ryan Young is cited on Reason about rising inflation: “If the Federal Reserve was thinking of cutting interest rates at its next meeting…
Search Posts
Blog
A New Day at the Consumer Financial Protection Bureau
According to Acting Director Mick Mulvaney, the Consumer Financial Protection Bureau will now stick to enforcing consumer protection laws as written, but not attempt go beyond that…
Blog
Durbin Amendment Update: No More Free Checking for the Poor
The Durbin Amendment strikes again. Today brings further evidence that the little-known amendment authored by Sen. Richard Durbin (D-IL), which imposed price controls on…
Blog
Tax Reform Outperforms Government Programs on Community Investment
Tax reform is the gift that keeps on giving. Americans for Tax Reform has documented the ever-growing list of companies providing pay raises, bonuses, 401(k)…
Blog
Increasing Public Awareness Bolsters Potential for Blockchain Applications
Blockchain is a software architecture that seems very likely to unleash profound global forces if it crosses over into the mainstream.
JD Supra
Overturning the CFPB’s Final Payday Loan Rule by Reopening Rulemaking or CRA Resolution
JD Supra covers developments of the CFPB’s payday loan rule and Daniel Press’ “7 Reasons to Oppose the Federal Payday Loan Rule.” On December 1, 2018,…
Blog
Payday Loan Options Serve Consumers Well
Congress should use the Congressional Review Act to dismantle the Consumer Financial Protection Bureau’s payday loan rule.
The Washington Times
White House Urged to Kill Obama-era Payday Lending Rule
The Washington Times covers CEI’s letter sent to the Office of Information and Regulatory Affairs (OIRA) regarding the payday-lending rule. A free-market group is urging…
Breitbart
Potential Nomination of McWatters to Head Up the CFPB Hits a Rough Patch
Breitbart discusses possible Consumer Financial Protection Bureau (CFPB) nominee Mark McWatters with John Berlau. The potential nomination of National Credit Union Adminstration Chairman (NCUA)…
The National Law Review
Overturning the CFPB’s Final Payday Loan Rule by Reopening Rulemaking or CRA Resolution
The National Law Review discusses the various vehicles that could be used to repeal the CFPB’s small-dollar loan rule. On December 1, 2018, three…
Blog
The White House Can Save the Small-Dollar Loan Industry
The Consumer Financial Protection Bureau's small dollar loan rule should be retracted on Paperwork Reduction Act violations alone. …
USA Today
Federal Payday Lending Rule Could Face Repeal Amid New Battle
USA Today covers the Consumer Financial Protection Bureau’s decision to delay the small-dollar loan rule. Consumer advocates and business groups are battling anew over…
American Banker
Not So Fast: CFPB Effort to Reopen Payday Rule Faces Hurdles
American Banker covers the Consumer Financial Protection Bureau’s decision to delay the small-dollar loan rule. The Consumer Financial Protection Bureau faces significant obstacles in…
The Hill
New CFPB Director Puts Target on Payday Loan Rules
The Hill covers the Consumer Financial Protection Bureau’s decision to delay the small-dollar loan rule. The new leaders of the Consumer Financial Protection Bureau…
Blog
Taming the Beast: Reform Ideas for the Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau’s complicated, one-size-fits-all rules with high compliance costs favor large banks with armies of lawyers while restricting the working poor’s access…
Blog
7 Reasons to Oppose the Federal Payday Loan Rule
Congress should use the Congressional Review Act to overturn the Consumer Financial Protection Bureau's small dollar loan rule.
The Washington Examiner
Trump Budget Chief Shuts Down Consumer ‘Protection’ Bureau ‘Slush Fund’
The Washington Examiner covers the review of the Consumer Financial Protection Bureau’s ‘slush fund.’ An educational “slush fund” used by the Consumer Financial Protection…
JD Supra
The IRS Succeeds in Compelling Crypto Exchange to Disclose User Information
JD Supra covers an amicus brief by CEI in Coinbase v. United States. As the price of bitcoin leaps and lurches toward new highs,…
News Release
CEI Congratulates Hester Peirce
Competitive Enterprise Institute President Kent Lassman congratulated Hester Peirce on her confirmation to the Securities and Exchange Commission: “Hester Peirce understands the real…
Blog
The Top Five Reforms in Financial Regulation Needed in 2018
With the Consumer Financial Protection Bureau at last pulling back from its regulatory assault on the financial services industry, conditions are right for major…
Blog
House Takes Lead on Bank Reform, Senate Should Follow
The House of Representatives has passed a significant piece of financial legislation, H.R. 3312, the “Systemic Risk Designation Improvement Act.”…
Blog
Digital Finance Pioneers Using Bitcoin for Savings, Payments,…and Donations
Your support for the Competitive Enterprise Institute, given in Bitcoin or dollars, can help us strengthen the hand of the businesses that offer a revolution…
Blog
A Consumer Financial Protection Bureau Slush Fund?
While there are many reasons to criticize the Consumer Financial Protection Bureau (CFPB), it being assigned to enforce the nation’s financial consumer protection laws…
JD Supra
U.S. v. Coinbase: Virtual Currency Holders Not Outside the IRS’s Reach
JD Supra covers U.S. v. Coinbase and CEI’s amicus brief in the case. The U.S. District Court for the Northern District of California, on…
Blog
End CFPB’s Collection of Americans’ Financial Data
Last week, when the drama of the dueling directors began at the Consumer Financial Protection Bureau (CFPB), I told The Washington Examiner that the…
Bloomberg BNA
House Bid to Ax Payday Rule Kicks Off With Bipartisan Support
Bloomberg BNA covers introduced legislation that would block the CFPB’s payday lending rule. A House resolution to repeal the Consumer Financial Protection Bureau’s small-dollar…
CNBC
New House Bill Would Kill Consumer Watchdog Payday Loan Rule
CNBC covers the blockage of the Consumer Financial Protection Bureau’s payday loan rule. Congress has it in for consumer protections enacted by the Consumer Financial…
Blog
Back to Basics after Bitcoin’s Wild Rise
The alternate currency known as Bitcoin has had a wild week, and its dramatic rise in value has meant that many Americans are hearing and…
Blog
Big Changes Needed to Senate’s Financial Reform Bill
While the Economic Growth, Regulatory Relief and Consumer Protection Act is a good first step, Republicans must push for more dramatic reform.
Blog
Case of Mortgage Lender PHH Corp. Highlights CFPB’s Unconstitutional Abuses
The facts of PHH Corporation v. Consumer Financial Protection Bureau stand as a sharp example of the agency's ability to abuse its enormous power.
Blog
Court Orders Coinbase to Turn over Cryptocurrency User Data to IRS
Congress should revisit the law to protect privacy and due process in IRS investigations.
Consumer Reports
You Still Can’t Sue Your Bank. So What Can You Do?
Consumer Reports covers the repeal of the Consumer Financial Protection Bureau’s anti-arbitration rule. The Senate’s recent vote to let forced-arbitration language …
Blog
Overturn CFPB’s Payday Loan Rule to Protect Vulnerable Consumers
Members of Congress must demonstrate the courage to stand up for consumers and against the rogue agency.
The Washington Times
Judge Rules in Favor of Trump in Battle over CFPB Leadership
The Washington Times covers the ruling in the fued over leadership of the Consumer Financial Protection Bureau. A federal court rejected efforts by anti-…
Blog
What Should Congress Do About the Volcker Rule?
The Volcker Rule is a Dodd-Frank regulation that prohibits federally insured banks from engaging in “proprietary trading,” which is trading with their own capital. It…
The Washington Examiner
CFPB’s ‘NSA-Like’ Surveillance in Limbo with Leadership Tussle
The Washington Examiner discusses Mick Mulvaney’s appointment as acting director of the Consumer Financial Protection Bureau with John Berlau. The fight for control of…
Breitbart
CFPB Acting Director Mick Mulvaney Orders 30-Day Hiring, Regulatory Freeze
Breitbart covers Consumer Financial Protection Bureau acting director Mick Mulvaney’s hiring and regulatory freeze. Mulvaney declared that President Trump “wants me…
Fox Business
Trump’s CFPB Won’t Be Obama’s: Key Ways It Could Be Different
Fox Business discusses Mick Mulvaney’s appointment as acting director of the Consumer Financiual Protection Bureau with Iain Murray. As the battle wages on over…
The New York Post
Banks Remain Quiet on Mulvaney CFPB Appointment
The New York Post discusses Mick Mulvaney’s appointment to the Consumer Financial Protection Bureau with Iain Murray. While Washington was buzzing on Monday over…
Blog
Under New Leadership, What is the Future of the CFPB’s Payday Loan Rule?
In the current uncertainty surrounding the future of the Consumer Financial Protection Bureau (CFPB), several issues require urgent attention. While the most pressing may…
News Release
Judge Sides with Trump in Consumer Financial Protection Bureau Director Fight
Upon news that a federal judge this afternoon ruled against a bureaucrat who claimed that she, not President Trump’s appointee Mick Mulvaney, is the lawful director of the…
Blog
Acting CFPB Director Mulvaney’s Bipartisan FinTech Work
Office of Management and Budget Director Mick Mulvaney has long broken bread with folks he disagrees with to find common ground on policy.
The Washington Times
Protecting Consumers from Fraud and Abuse
Following Richard Cordray’s resignation as director of the Consumer Financial Protection Bureau (CFPB), the smart money is betting that President Trump will appoint Mick Mulvaney, head…
Blog
Federal Office of Financial Research Violates Privacy, Produces Little of Value
The American people would be better off without it.
The Hill
Why Are We Still Regulating Main Street Like Wall Street?
It’s no secret that banks across America aren’t doing well under the Dodd-Frank Act, Congress’s response to the 2008 financial crisis. Since Dodd-Frank’s enactment in 2010,…
Blog
Good Riddance to Finance Regulator Richard Cordray
The resignation of Consumer Financial Protection Bureau Director Richard Cordray is long overdue.
Blog
Tear Down the Wall Between Banking and Commerce
The separation of commerce and banking has little relevance in the 21st century.
Blog
Fed Confirms Government Regulation Is Not the Answer to Equifax Data Breach
More regulation will not help protect the financial system against cyber attacks, such as the Equifax hack.
Blog
Property Rights of Fannie and Freddie Shareholders—Including Small Investors—Must Be Respected
Private investors should never be guaranteed any type of government bailout. At the same time, they should not have their property and contract rights violated.
RealClear Markets
Undoing President Obama’s Damage Will Take Time
RealClear Markets covers the Systemic Risk Designation Improvement Act of 2017. Indeed, another reason to oppose new government undertakings is that each creates groups…
The Washington Times
Trump Signs Legislation to Repeal Obama-era Arbitration Rule
The Washington Times discusses the repeal of the anti-arbitration rule with Iain Murray. President Trump signed legislation Wednesday afternoon repealing the Consumer Financial Protection Bureau’s…