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 […]

Statement by American Consumer Institute Regarding the Congressional Letter to Visa and Mastercard on Interchange Fees

The American Consumer Institute is concerned to learn that a letter has been sent by a few U.S.  legislators, led by Senator Dick Durbin of Illinois, to Visa Inc. and Mastercard Inc. regarding reports of pending increases in interchange fees on merchants. The letter expresses misplaced fears that such plans would lead merchants to pass […]

Competing Interests: Antitrust vs. Corporate Welfare

Despite legislative efforts motivated by techlash against big tech, state governments are creating perverse financial incentives to draw them and other businesses to their states by implementing corporate welfare packages. Not only do taxpayers end up footing the bill for these financial incentives, but too often, these programs fail to live up to their lofty […]

HUD Study on FHA Loans Offers Lessons on Avoiding Risk

In 2018, an interesting study was published by the nonprofit R Street Institute, which found that the Federal Housing Finance Agency (FHFA) was allowing government sponsored enterprises (GSEs) to issue federal loans without requiring earthquake insurance for borrowers, potentially putting the taxpayer at substantial risk should a catastrophe occur. Now several years later, a report […]

Coalition Letter in Opposition Expansion of the Durbin Amendment

Today, a coalition of nonprofit policy organizations sent a letter to Congress in opposition to any legislation that would expand or mimic the provisions of the Durbin amendment as enacted in the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203). Expanding the Durbin amendment’s interchange fee cap and routing restrictions to credit cards […]

The Hill: Cutting Interchange Fees is a Recipe for Disaster

Every so often, Congress introduces a piece of legislation advocating for some new form of price control claiming it is needed to protect the rights of consumers. Yet, time and time again these price controls fail to live up to their expectation, usually to the detriment of the very consumers they were designed to protect. This op-ed was published […]

Clear Regulations are Essential for Cryptocurrency

Cryptocurrency has moved from a fringe interest to a prominent player in global financial markets. Unfortunately, American lawmakers are struggling to keep up, resulting in contradictory regulations and creating a hostile regulatory environment. Lawmakers need to create clear and transparent rules to facilitate cryptocurrency’s growth and establish the U.S.’ leadership in global markets. Under minimal […]

Capping Interest Rates is Bad For New Mexico Consumers

As New Mexico opened the second session of the 55th legislature, five Democrats introduced a bill that, despite good intentions, would make credit inaccessible for thousands of the state’s residents. While well-intentioned, House Bill 132 would be particularly harmful to the residents of a state that routinely has one of the lowest per capita incomes and highest poverty rates in […]