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
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…
News Release
CEI praises measure to overturn CFPB’s destructive price controls on credit card late fees
On Wednesday, the House Financial Services Committee is expected to approve a Congressional Review Act (CRA) resolution sponsored by Rep. Andy Barr (R-KY) to overturn…
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…
Search Posts
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 is likely,” said…
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 company…
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 funds…
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” plan.
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 dip…
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 bill…
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 federal…
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 tokens…
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 Financial…
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 on…
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 recent…
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 hypothetical…
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 tech…
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 the matter of…
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 viability…
Small Business Advocate
AUDIO: Dealing With the Reality of Digital Payments and Crypto-Currency
Senior Fellow John Berlau joins Jim Blasingame to discuss the difference between the government’s idea of a digital or crypto-currency and that of the private…
Small Business Advocate
AUDIO: What George Washington would think about 2021 America
Senior Fellow John Berlau joins Jim Blasingame to report how America’s father, George Washington, would think about the 2021 marketplace, and why he wouldn’t be…
Blog
Will Anyone Challenge the SEC’s Ever-Expanding Authority?
This question of redefining a government agency’s mission arose last week during an event hosted by George Mason University’s Center for the Study of…
Blog
Janet Yellen vs. Suze Orman on Bitcoin and Cryptocurrency
As Treasury Secretary Janet Yellen is testifying now before the House Financial Services Committee, she will likely get questions about the popularity of bitcoin…
Letters
CEI Joins Letter to Yellen on Federal Overreach of COVID Funds
Dear Secretary Yellen, On March 11, President Biden signed into law the American Rescue Plan Act of 2021 (Act), which authorizes $1.9 trillion in new…
National Review
SEC Unbound: Yet More Regulatory Creep
Federal agencies like the Securities and Exchange Commission (SEC) have long varied in their focus and priorities, depending on their current leadership and the ideological composition…
Comment
CEI Comment on NASDAQ Board Diversity Proposal
View Full Document as PDF Comment of Richard MorrisonResearch Fellow, Competitive Enterprise Institute[1]To the Securities and Exchange Commission In the…
Letters
CEI Joins Coalition Letter Opposing FTT
Dear Member of Congress, On behalf of millions of taxpayers and investors across the country, we urge you to reject any proposal to implement a…
Real Clear Markets
Why Walmart Bank Would Be Great for Business, Consumers
As small businesses and consumers struggle to stay afloat amid challenging economic times, access to credit, capital, and other financial services is critically important to…
Wealth Management
Gary Gensler Lays Out Enforcement Priorities at Senate Hearing
Wealth Management cites Research Fellow Richard Morrison and Senior Fellow John Berlau on the SEC and Gary Gensler: But representatives from the Competitive Enterprise…
News Release
Senate Should Question Biden SEC, CFPB Nominees About Needed Constraints on Regulators
Today, the Senate Banking Committee is considering President Biden’s nomination of both Gary Gensler to head the SEC and Rohit Chopra to head the CFPB.
News Release
Richard Morrison Statement on the Confirmation Hearing of Gary Gensler to Be SEC Chair
Senior Fellow Richard Morrison reacted to the confirmation hearing of Gary Gensler to be SEC Chair: “Chairman-designate Gensler’s prepared remarks for today’s confirmation hearing…
Letters
CEI joins Coalition Letter Supporting the Elimination of the Office of Financial Research
Dear Senator Cruz & Congressman Budd: On behalf of the undersigned organizations, we write to express our support for your legislation eliminating the unaccountable…
CNBC
It’s Time For Biden’s Financial Regulators To Face The Senate Spotlight
CNBC cites attorney Devin Watkins on President Joe Biden’s choice of Rohit Chopra to run the Consumer Financial Protection Bureau: “Rohit Chopra’s push while…
Letters
CEI Joins Coalition Urging Congress to Reject the Restoration of Earmarks
Dear Member of Congress, On behalf of the undersigned organizations and our millions of members and supporters from across the country, we urge you to…
Letters
CEI Joins Coalition Letter Urging GSE Reform
View Full Document as PDF Dear Chairman Brown, Chairwoman Waters, Ranking Member Toomey and Ranking Member McHenry: On behalf of the undersigned organizations,…
News Release
House Hearing on Robinhood/GameStop Controversy Should Focus on Helping, Not Restricting Investors
On February 18 (tomorrow), the House Financial Services Committee will hold a hearing on the recent Robinhood-GameStop controversy. CEI Senior Fellow John Berlau cautioned…
Letters
CEI Joins Coalition Letter to Congress: Don’t Restrict Retail Investors
View Full Document as PDF The Honorable Sherrod BrownChairmanSenate Committee on Banking, Housing, and Urban AffairsWashington, D.C. 20510The Honorable Maxine WatersChairwomanHouse Committee on…
Blog
Young Investor’s Tragedy Should Not Cancel Robinhood and Other Fintech Investing Apps
Since the Gamestop-Reddit frenzy, the FinTech investing app Robinhood has taken a lot of arrows. Those who decried the stock market rallies blamed Robinhood for…
National Review
Voluntary ESG Disclosures Not Enough for the Feds
Dozens of companies, including some of the best-known consumer brands, recently signed on to a new system of rules for reporting on environmental, social,…
Blog
The New CFPB Leadership Should Avoid Rate Caps on Small Dollar Loans
With new leadership at the Consumer Financial Protection Bureau (CFPB), there is rising concern that there will be renewed attempts to cap effective interest rates…
Inside Sources
Picking Gensler for SEC Another Sign Biden’s Bringing More Regulation to Wall Street
Inside Sources cites Research Fellow Richard Morrison on President Biden’s choice of Gary Gensler as chairman of the Securities and Exchange Commission: Opponents of increased…
National Interest
Why a Biden Administration Attack on Cryptocurrencies Would Be a Mistake
The new Treasury Secretary Janet Yellen wants to restrict the use of cryptocurrencies, citing concerns with “illicit financing”—notably money laundering and terrorism financing.
Federal News Network
AUDIO: Does Banking Fairness Come At A Fair Price To Consumers?
Senior Fellow John Berlau joins the Federal News Network to discuss the Fair Access Rule by the Office of the Comptroller of the Currency and…
Blog
Respect, Don’t Restrict, Retail Investors
Watching the wild gyrations of the stock market this week—and some of the reactions to it—brings to mind Ronald Reagan’s observations of the bureaucratic mindset…
News Release
CEI Praises Biden Decision Suspending ‘Fair Access’ Banking Rule
President Biden’s Office of the Comptroller of the Currency today announced that it was halting publication of a final banking rule, pending review. The late…
News Release
Senate Should Question Biden’s Choice to Head CFPB, Rohit Chopra, on Fair Process for Regulating Businesses
The Senate should question President-elect Biden’s nominee to head the Consumer Financial Protection Bureau out of concern that businesses get fair treatment in the regulatory…
Forbes
Who Is Gary Gensler, Biden’s Pick To Run The SEC?
Forbes cites Research Fellow Richard Morrison on President Biden’s choice of Gary Gensler as chairman of the Securities and Exchange Commission: Richard Morrison, a fellow…
The Epoch Times
Biden Picks Warren Allies to Head Financial Sector Oversight Agencies, SEC, and CFPB
The Epoch Times cites Research Fellow Richard Morrison on Biden’s policy proposal for the SEC: Some conservatives have expressed reservation. Richard Morrison, a fellow…
The Washington Times
Trump Administration Finalizes ‘Fair Access’ Banking Rule
The Washington Times cites Senior Fellow John Berlau on the “Fair Access” banking rule: “The rule will lead to more, not less, politicization of…
Blog
Treasury, FHFA Reverse ‘Net Worth Sweep” at Fannie and Freddie
The headlines yesterday were that the Trump administration had failed to exit Fannie Mae and Freddie Mac from the government-owned conservatorship. This is true…
News Release
New Bank Fair Access Rule Will Cause Costly State of Uncertainty, Red Tape
Today the Office of the Comptroller of the Currency, an independent bureau within the United States Department of the Treasury, finalized a new mandate…
National Review
A Big-Government Crackdown on ‘Woke Capital’
National Review cites Senior Fellow John Berlau on the OCC proposed Rule on “Fair Access to Financial Services”: There’s also the matter of how…
News Release
Biden’s SEC Pick Should Focus on Commission’s Core Mission, Not Political Causes: CEI Experts
President-elect Biden is reportedly set to select Gary Gensler to head the Securities and Exchange Commission. Gensler is a current MIT professor who previously served…