Coalition Letter to Congress on National Flood Program

A coalition letter send a letter to the U.S. Senate and House of Representative leadership in support of public policies to improve the flood resilience of homes and within communities. In particularly, the letter endorsed efforts by the Federal Emergency Management Agency to modernize the rate-setting system of the National Flood Insurance Program. The entire […]

Coalition Opposes Wasteful $3.5 Trillion Spending Plan

Today, a coalition of tax and consumer groups wrote a letter to Congress in opposition to the $3.5 trillion proposal, calling it — not a “path for progress for Americans,” but rather a mixed bag of higher taxes andincreased wasteful spending for which taxpayers will ultimately be responsible. The coalition letter is available here online.

Real Clear Policy: For the Sake of Consumers, Kill the Durbin Amendment

Despite trying to cut costs for consumers and businesses, research has consistently shown the Durbin amendment denied consumers access to no-fee and low-fee financial services. Moreover, this denial disproportionately harmed minority and low-income communities, preventing them from accessing formal lines of credit. The proposal to lower and cap interchange fees for credit card transactions would exacerbate […]

ACI Comments on Proposed Debit Card Routing and Regulations

Today, ACI filed comments with the Federal Reserve regarding its proposed changes to debit card interchange fees and routing options. ACI raised numerous concerns about the Federal Reserve proposal, including how the proposed changes would increase fraudulent debit transactions and reduce consumer benefits. The filed comments are available online.

Inside Sources: Ending Surprise Medical Bills

Surprise medical bills occur when out-of-network provider fees exceed what health insurance plans are willing to cover – the difference resulting in unexpected out-of-pocket expenses for patients. Between 2014 and 2017, it is estimated the average surprise medical bill could be anywhere from $220 to $628. The problem is particularly pronounced in emergency room visits and emergency surgeries […]

The Economic Standard: As Postal Losses Grow, Regulatory Scrutiny Reaches a Boiling Point

On August 6th the U.S. Postal Service released its financial report for the third quarter of the fiscal year, which was highlighted by a loss of $3.0 billion (comparing the latest three months in 2021 to the same period in 2020). The Postal Service now appears all but certain to be on the path toward […]

The Hill: Taxing Climate Change

As environmental catastrophes, like storms and earthquakes, appear more frequent, the ability of consumers to protect themselves from significant financial losses is more paramount than ever. But as American consumers, as well as state and local governments, prepare to cope with climate change, things will soon be much more expensive for consumers, in part due to […]

AI Can Provide a Solution to the Problem of Credit Invisibility

Today, around 26 million American consumers are considered credit invisible, meaning they do not have a credit record needed to obtain credit cards, a loan, or a mortgage even though they may be financially responsible. For Americans who are credit invisible, the use of artificial intelligence (AI) in determining credit worthiness would remove a substantial […]

Capping Interchange Fees Won’t Enhance Consumer Welfare

Each year, financial merchants such as Visa, Mastercard, American Express, and banks process 39.6 billion card transactions in the United States, amounting to 108.6 million transactions each day. To ensure these transactions are processed quickly and securely, financial merchants and banks impose interchange fees on transactions, more commonly known as swipe fees. Last year, merchants businesses paid financial […]