Consumer Finance
Credit access, rate caps, the CFPB, banking, payments and retirement savings.
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Op-Ed
Death by a thousand caps—State laws could kill credit card rewards
A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value, and raising concerns about an illegal interstate compact.
Originally published inAmerican Banker
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Policy Brief
Colorado’s House Bill 1282 Swipe Fee Legislation: A Price Control by Another Name
Colorado’s interchange swipe fee cap will ultimately harm small businesses, drive up banking costs, and gut credit card rewards.
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Testimony & Comments
Fighting Back Against Rate Caps in Alaska: SPPI’s Testimony on Senate Bill 39
Last week, I had the opportunity to testify before the Alaska Senate Finance Committee on the dangers of Senate Bill 39, a proposal to impose a 36% APR cap on consumer credit. Additional testimony was submitted…
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Policy Brief
Why Alaska’s Senate Bill 39 Should Be Rejected: Lessons from New Mexico’s Failed Rate Cap
Alaska’s Senate Bill 39 (SB 39) proposes a 36% APR cap on consumer loans up to $25,000. The bill aims to regulate financial services, prevent “predatory” lending, and bring state laws in line with federal consumer…
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In the News
SPPI Featured in Tangle’s Coverage of CFPB Debate
SPPI continues to argue against the agency’s overreach and its impact on financial markets.
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Policy Brief
Backdoor Price Control: New Mexico’s HB476 Interchange Fee Cap Scheme
New Mexico’s HB 476 stealthily caps interchange fees by targeting sales tax, bypassing federal oversight while shifting costs to consumers and small businesses.
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Policy Brief
Arizona End-Run: How HB 2629 Sneaks in a Credit Card Interchange Fee Cap
Arizona’s HB 2629 stealthily caps interchange fees by targeting sales tax, bypassing federal oversight while shifting costs to consumers and small businesses.
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Op-Ed
The Real World Intrudes On Sanders and Hawley’s Rate Cap
A national credit card rate cap may seem consumer-friendly, but history and state-level experiments shows it shrinks credit access and pushes borrowers toward costlier alternatives.
Originally published inRealClearMarkets