Capping overdraft fees won’t help struggling families, it will cut off their last line of credit.
Topic: Financial regulation
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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.
The CFPB’s outdated rule on small-dollar lending punishes working-class Americans by restricting access to the very credit they rely on to make ends meet.
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Fox Business: Credit card rewards are about to vanish, and guess who’s to blame?
This isn’t just about miles and points; it’s about economic freedom and financial choice.
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American Banker: 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.
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 to the Senate Labor and Commerce Committee before the bill was advanced to the Senate Finance Committee. This legislation […]
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 protection measures. However, while the bill’s intentions may seem noble, its real-world consequences will devastate Alaskan consumers—especially those with […]
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SPPI Featured in Tangle’s Coverage of CFPB Debate
SPPI continues to argue against the agency’s overreach and its impact on financial markets.
New Mexico’s HB 476 stealthily caps interchange fees by targeting sales tax, bypassing federal oversight while shifting costs to consumers and small businesses.
Arizona’s HB 2629 stealthily caps interchange fees by targeting sales tax, bypassing federal oversight while shifting costs to consumers and small businesses.