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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…
News Release
CFPB Price Controls on Late Fees Mean Less Credit, Higher Costs for Cardholders
Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule on credit card late fees that would do far more harm than good, according…
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Coalition Warns Against RECOUP Act that Gives Vast Powers to Banking Regulators
The Competitive Enterprise Institute and Americans for Tax Reform today led a coalition letter to congressional leaders opposing the RECOUP Act. CEI’s John Berlau explains…
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Capital One/Discover Merger Not a Threat to Competition, Overregulation Is
The proposed merger between Capital One and Discover is not a threat to competition in the credit market, but there is one big looming threat…
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CFPB Overdraft Proposal Would Harm Consumers
Today, the Consumer Financial Protection Bureau – as part of the Biden administration’s whole-of-government crusade against “junk fees” – unveiled a proposed rule that…
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Report: Energy Tax Targeting Crypto Industry – Bad Idea for a New Year
A new Competitive Enterprise Institute report investigates whether the energy usage of certain cryptocurrencies like Bitcoin merits a targeted electricity tax on the industry…
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A Supreme Court ruling against CFPB would benefit consumers: CEI analysis
Today, the Supreme Court will hear oral arguments in CFPB v. CFSA, in which the Court will decide if the CFPB’s funding structure, which bypasses…
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Grayscale Decision Curtails “Arbitrary and Capricious” SEC and Enhances Investor Options
Today, the U.S. Court of Appeals for the D.C. Circuit unanimously ruled in Grayscale Investments v. SEC that the Securities and Exchange Commission’s denial…
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Court Ruling on Ripple Cryptocurrency Case Curbs SEC Powers
A federal court has weighed in on whether a prominent cryptocurrency can be regulated by the U.S. Securities and Exchange Commission (SEC) as a security…
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SEC’s Case Against Coinbase Threatens All U.S. Entrepreneurs
John Berlau, CEI Director of Finance Policy, today criticized the SEC for its ill-founded lawsuit targeting Coinbase: “The Securities and Exchange Commission’s (SEC)…
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Congress Must Examine First Republic’s Woke Financing and Risk Management Regulation
Regulators today seized the failed First Republic bank and sold its operations to JPMorgan Chase. CEI financial policy expert John Berlau reiterated the need for…
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Supreme Court Ruling Ensures People Can Challenge Agency Authority in Court
The Supreme Court ruled today that regulatory agency tribunals do not have any special expertise in deciding constitutional law questions; therefore, district courts can hear…
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Congress Shouldn’t Compound Silicon Valley Bank Collapse with Bailouts and Bad Ideas
The Silicon Valley Bank collapse has spurred some terrible policymaking ideas in Congress, exacerbating bad decisions by the bank that has led to its collapse.
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Supreme Court Rightly to Review CFPB Funding Constitutionality
The Supreme Court today announced it will review the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding, an unusual arrangement of unchecked funding from…
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CFPB Cap on Credit Card Late Fees = Price Controls that Raise Cost of Credit for Everyone
The Biden White House is touting a new proposed rule from the Consumer Financial Protection Bureau that would cap most credit card late fees…
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FTX Crypto Problems Reveal SEC Shortcomings, As Well: CEI Analysis
The current collapse of cryptocurrency company FTX has exposed another festering problem with how the industry is being regulated, says CEI Senior Fellow John Berlau:…
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Biden Wrong About “Junk Fees” in Sweeping Government Mandate
Today the Biden administration announced a new whole-of-government initiative against “junk fees” from airlines, banking, and other industries. But what he is calling junk fees aren’t…
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Court Rules CFPB Funding Structure Unconstitutional: CEI Statements
A Fifth Circuit panel ruled Wednesday that the Consumer Financial Protection Bureau’s unusual funding structure is unconstitutional, in a lawsuit brought by a small-dollar (payday)…
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Bipartisan Cryptocurrency Bill Takes Good Steps for American Innovation
Today, Senators Lummis and Gillibrand released their much anticipated bill on cryptocurrency regulation. CEI financial policy expert John Berlau praised aspects of the bill…
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SEC Climate Disclosure Rule Will Cause Big Problems, CEI Experts Predict
Today the Securities and Exchange Commission described a new rule it plans to impose concerning climate disclosure requirements that may affect even private companies as…
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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…
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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…
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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…
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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…
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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. …
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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…
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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…
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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…
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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…
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Senate-Passed Infrastructure Bill Is a Gigantic, Counterproductive Spending Bill: CEI Analysis
The Senate today passed a complicated, controversial $1 trillion bipartisan infrastructure bill. CEI policy experts criticized the mammoth bill as a plan that will do…
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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…
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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…
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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…
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House Judiciary Committee Antitrust Bills Would Compromise U.S. as Global Leader on Tech and Harm Consumers
Several antitrust bills were introduced today by members of the House Judiciary Committee, including the “American Innovation and Choice Online Act,” the “Platform Competition and…
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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…
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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…
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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…
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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…
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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
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…
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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…
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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…
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…
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…
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CFPB Taskforce Offers Recommendations to Help Consumers, Fintech Firms
In response to a new report from the CFPB Taskforce on Federal Consumer Financial Law, CEI Senior Fellow John Berlau praised recommendations aimed at helping…
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CFPB Makes Needed Changes to Qualified Mortgage Rules
The Consumer Financial Protection Bureau today issued final rules related to qualified mortgage loans, which require lenders to determine at the onset that consumers…
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Corporate Transparency Act Threatens Small Businesses, Privacy Rights
The House today is expected to pass a controversial bill impacting a wide swath of American businesses, as part of the must-pass National Defense Authorization…
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Comptroller Plan to Impose ‘Fairness Doctrine’ for Banks Goes Against Freedom of Association
CEI Senior Fellow John Berlau criticized a proposal by the Office of the Comptroller of the Currency (OCC) to impose a “fairness doctrine”…
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New CEI Report Finds Bipartisan Embrace of Harmful, Interventionist Tech Policies
Neither major political party holds a monopoly on bad ideas when it comes to federal policy towards the technology sector, according to a…
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SEC Takes Step Towards Equality, Against Privilege with Change to Accredited Investor Rule
Today the Securities and Exchange Commission announced action to liberalize so-called accredited investor regulation. John Berlau, a longtime proponent of such reform, praised the decision.