Capping overdraft fees won’t help struggling families, it will cut off their last line of credit.
Tag: Consumer Protection
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American Banker: Out of One, Many
As CFPB retreats, the new danger is a jumble of state-level mandates.
Good intentions don’t pay the bills. But choice, transparency, and access can.
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Out of One, Many
Why banks, payment networks, merchant servicers, and financial firms will face a harder four years, and what to do about it.
For exceptional achievement in ignoring market realities and promoting policies that backfire spectacularly.
Tara Jaramillo’s payday lending scheme didn’t happen despite New Mexico’s interest rate cap: it happened because of it, with a little help from Fred Nathan and the price-fixing crusaders at Think New Mexico.
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‘Black Market Payday’ Makes Headlines: Unlicensed Lending by Tara Jaramillo
Price controls like New Mexico’s 36% APR cap have driven vulnerable workers into the hands of unlicensed lenders.
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Report: Black Market Payday
How government price controls created an illicit supply of emergency credit.
The CFPB’s outdated rule on small-dollar lending punishes working-class Americans by restricting access to the very credit they rely on to make ends meet.
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Budget and Spending Conservatism Courts Culture Domestic Policy Economic Opportunity Economy Government Regulation Government Spending Infrastructure & Technology Legal and Judicial Life Markets and Finance Political Thought Poverty & Welfare Poverty and Inequality Progressivism Public Opinion Technology Transparency Updates
An Overdue Course Correction at the CFPB
Acting CFPB Director Russ Vought’s rollback of state enforcement overreach marks a critical return to legal restraint, restoring constitutional balance and regulatory clarity to America’s financial system.