The Economic Standard: CFPB has Overstepped Its Authority

The Consumer Financial Protection Bureau (CFPB) has an important role of protecting consumers’ interests in the financial sector. As such, the Bureau is responsible for regulating in a manner that does not harm consumers or businesses.  This makes the Bureau a powerful institution with regulatory reach across a wide range of economic issues and, as a consequence, […]

Inside Sources: CFPB Puts Fintech in Its Regulatory Crosshairs

While the CFPB intends to expand its regulatory authority in the name of protecting consumers, it must be careful not to overstep and create a regulatory environment that degrades the significant consumer welfare fintech companies provide. While doing so would inflict considerable and unnecessary harm on consumers at large, low-income and those outside of conventional […]

Statement on a Legislative Proposal for Fiscally Responsible Congressional Budgeting

The following is a statement by Krisztina Pusok, Research and Policy Director for the American Consumer Institute: “America desperately needs responsible Congressional budgeting. For too long, the federal government has engaged in reckless fiscal spending that has left the economy in a dire state. We welcome Senator Braun’s proposal to roll back excessive deficit spending, […]

Federal Times: Why US Postal Service Rates Keep Going Up

Consumers nationwide are struggling in new, alarming ways to manage the economic challenges of price inflation and shortages of necessary goods. Rapid increases in the cost of gasoline, groceries, and other household items have a particularly harsh impact on those with the least wiggle room in their budgets, namely everyday citizens and small businesses. While the federal […]

The Economic Standard: Fintech Faces Regulatory Peril

Over the past decade, the way Americans accessed capital has changed dramatically. Whereas previous generations relied on financing from high-street banks, today’s young adults and unbanked consumers are more likely to use fintech companies, mostly accessible through their smartphones. Despite the significant change and democratization of consumer finance, the Consumer Finance Protection Bureau (CFPB) has […]

Stablecoin Legislation Seeks to Preserve the Growth of Blockchain-Based Currency

While cryptocurrency’s crash has grabbed headlines, the public’s understanding of the underlying technology remains limited. Only 4% of Americans were able to pass a 17-question quiz assessing their baseline knowledge of cryptocurrency, even though in a separate poll, 16 percent of Americans reported having purchased crypto. Despite the lack of knowledge regarding how the technology […]

The Well: Under Risk Rating 2.0, High-Income Communities Finally Pay Their Fair Share

Low-income neighborhoods face long roads to recovery as they are often disproportionately affected by natural disasters like hurricanes and flooding. Yet, instead of paying an equitable amount for the coverage they need, they continue to subsidize flood insurance for affluent, coastal communities. However, implementing a new FEMA flood pricing methodology, referred to as Risk Rating […]

Is Student Debt Forgiveness Welfare for the Rich?

In a press conference last month detailing new “targeted” student loan forgiveness, President Biden floated the possibility of canceling much larger amounts of student debt for some Americans in the future. The Biden Administration has already committed to expanding loan forgiveness eligibility for several existing federal programs, which the Department of Education estimates is worth […]

Statement Regarding Florida’s Special Legislative Session on Property Insurance

The American Consumer Institute urges Florida Governor Ron DeSantis and the state legislature to strongly consider tort reform during their upcoming special legislative session. Over the years, Florida has suffered from a range of issues related to insurance fraud, frivolous lawsuits, and the assignment of business suits, each contributing to a poor business environment for […]

Does Cryptocurrency Need a New Regulatory Structure?

While cryptocurrency is still a relatively new phenomenon, its popularity is growing. The three largest cryptocurrencies—Litecoin, Bitcoin, and Ethereum—have around 1.5 million daily transactions. The increased ease and transparency drive cryptocurrency’s use it brings to financial transfers. While streamlining transactions saves consumers time and money, the underlying concept of transferring value has not changed. The […]