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
How SAFER Banking Act poses new dangers to marijuana and other legal industries
Marijuana has been in the news lately, and the news seems to be overwhelmingly favorable to the industry in terms of reducing uncertainty as to…
Blog
Fed flirts with stimulus
As expected, the Federal Reserve signaled its commitment to fighting inflation by holding interest rates steady at this week’s Federal Open Market Committee meeting. It…
Blog
Weak GDP is first stress test for inflation fighters
I have been saying for a while that inflation expectations will remain high until policymakers prove they can restrain their stimulus spending during an economic…
Search Posts
News Release
Biden Budget ‘Billionaire Tax’ Constitutionally Troubling
The newly released details of the White House budget for fiscal year 2023 marks a failure in spending restraint and regulatory accountability, say CEI experts.
Blog
White House Confiscatory Tax Proposal Underlines Why CEI Is Challenging Provision of 2017 Tax Reform
Today President Biden previewed his proposed fiscal year 2023 budget. I am in complete agreement with the first five words: “Budgets are statements of values.” …
Blog
Inflation and the Biden Budget
It is good that the Biden administration is beginning to take inflation seriously. Unfortunately, however, there isn’t much that the president and Congress can…
Blog
Why Cannabis Banking Liberalization Would Indeed Increase U.S. Competitiveness
As war continues in the aftermath of Russia’s invasion of Ukraine, interest by policy makers and the media has spiked in competitiveness bills passed separately…
Blog
Climate Police Occupy Wall Street
The Securities and Exchange Commission (SEC) on Monday, March 21, released its proposed rule to require every “registrant” (i.e., publicly-traded company) to provide more…
Letters
CEI Joins Coalition Letter on Durbin Amendment
Dear Chairman Brown, Ranking Member Toomey, Chairwoman Waters, and Ranking Member McHenry: The undersigned organizations write in opposition to any legislation that would expand or…
The Washington Examiner
Biden’s Executive Order Marks the Government’s Initial Foray into Cryptocurrency
The regulatory future of cryptocurrency looks uncertain in Washington, but there is growing acceptance that blockchain finance is here to stay. President Joe Biden issued…
News Release
In Order to Counter Inflation, Federal Reserve Should End Bond Buying Spree
The Federal Reserve announced today it would raise benchmark interest rates by a quarter percentage point with the aim of counteracting the effects of…
News Release
After Bloom Raskin Withdrawal, Biden Should Nominate Someone Focused on Financial Stability, Monetary Policy
President Biden’s nominee to be Federal Reserve Vice Chair for Supervision Sarah Bloom Raskin withdrew her nomination from consideration today, after it became clear that…
USA Today
What Did Biden Get Wrong on Crypto? His New Order Threatens to Smother Innovation
President Joe Biden released an executive order Wednesday that could curtail opportunities that cryptocurrency provides for economic advancement, notwithstanding the order’s hopeful tone about…
CoinDesk
The First Crypto War May Lead to Lasting Peace
The Russian invasion of Ukraine is the first crypto war. The digital asset front follows only the actual fighting in importance. Crypto has been a…
News Release
CEI Statement: Biden Executive Order to Target Crypto for Regulation
The White House is set to release an executive order today regulating cryptocurrency. CEI Senior Fellow John Berlau expressed concerns about the order and the…
Blog
Stablecoins Come of Age in Ukraine-Russia Conflict
Across the globe, people living under oppressive regimes are already familiar with stablecoins—digital assets pegged to a stable monetary value, usually the U.S. dollar. Now,…
Blog
Don’t Raise Accredited Investor Thresholds
The gulf between Securities and Exchange Commission (SEC) Chair Gary Gensler’s rhetoric and the results of his leadership continues to widen. In interviews and…
The New York Sun
Regulations Stymie New York in Crypto Competition vs. Miami
New York City and Miami are the clear frontrunners to become the preeminent home of American cryptocurrency, and the cities’ mayors — Eric Adams of…
Blog
George Washington, Larry David, Cryptocurrency, and Freedom
One of the most talked-about Super Bowl ads was that of Larry David traveling through history and naysaying innovations that turned out to be hugely…
The Washington Times
Wholesale Prices Soared Again in January as Inflation Remains Near Record Highs
The Washington Times cites Senior Fellow Ryan Young on the Fed’s response to inflation: Ryan Young, a senior fellow at the libertarian Competitive Enterprise…
Blog
Lisa Cook’s First Amendment Problem
Today, the Senate Banking Committee is set to vote on five nominations for the Federal Reserve Board. My CEI colleague Myron Ebell and I have…
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 Fed…
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 for…
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 Fed,…
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 has…
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 federal government…
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 countries…
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 Bloom…
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 in opposition…
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 and…
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 Fed…
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 who…
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 damage…
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 of…
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 digital currency…
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 policy at the…
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 investment.
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 President…
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 Protection Bureau’s…
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 the federal regulatory…
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 drama…
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 the…
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 form…
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 when…
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. CEI…
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 for…
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 politically…
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 banking…
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 free-market Competitive Enterprise…
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 Currency. …
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 Senate Office Building Washington, D.C.
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 to…
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 Labor…
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 The Biden…
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 includes…
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 communism.
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 Congress…
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 titled “Protecting…
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 assured the public…
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 bill…
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 in the Senate,…
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 financial…
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 Americans…
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 reporting…
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, loan,…
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 technology.
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 John…
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 never…
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 534 Dirksen Senate Office…
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 expert…
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 Congress…
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 8.3…
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 circumvents the…
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 represent, we…
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 firm…
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 increase…
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 destroy,…
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 how…
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 Commission…
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 build,…
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 States’ vibrant…
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 States’ vibrant…
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 cryptocurrency…
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 anonymity…
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 the…
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 represent, 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 captured…
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, bailouts…
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, the…
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 from…
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 enhancing…
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 well…
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 led…
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 enterprises…
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 stand firm against…
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. That…
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 is recognizing…
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 and…
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 currencies.
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 where they can…