ACI Files Comments with the CFPB: Calls for Preserving Consumer Choice

In this filing ACI commends the Consumer Financial Protection Bureau’s (CFPB) decision to rescind the specific provisions of the 2017 rule and thus preserve consumer choice and access to credit. As the CFPB thinks about re-evaluating the rules governing small-dollar loans, it should be mindful of the empirical evidence in this area and look to […]

Inside Sources: Restricting Access to Small Loans Amounts to Legalized Redlining

Will U.S. regulators put the breaks on small-dollar loans to American Consumers? A rule finalized by the Consumer Financial Protection Bureau in 2017 to impose onerous regulations on small-dollar loans would dramatically reduce access to credit for many struggling Americans who are locked out of the traditional banking system because of poor credit or low […]

Real Clear Policy: Reform Wall Street To Help Main Street

There’s finally light at the end of the seven-year-long tunnel: The Senate is set to take action to right the Dodd-Frank Act’s many wrongs. For customers of Main Street financial institutions –regional banks, credit unions and community banks – the proposed reform will benefit them, their communities and the general economy. To read more, visit […]

The Credit Union Experience – Only for Some?

The Credit Union National Association found that 90 million American individuals enjoyed $7 billion in direct financial benefits from credit unions during the year ending June 2010.  These benefits came as lower loan rates, higher deposit interest, and lower fees than in offered by bank institutions.  Equally valuable, credit unions members experienced the sense of […]

Increase Competition: A Gift Horse with Sound Teeth and Solid Performance

  The economy expanded at a 1.8% snail’s pace in the first quarter of 2011.  The large auto companies and banks are still repaying Federal stimulus loans.  In April, just half of small businesses report making capital investments, depressingly low for a group that is usually first to recover and hire.  Among consumers, many homeowners […]

Credit Unions Provide Persuasive Benefits to Consumers

Almost 92 million consumers do their banking through credit unions’ 21,000 branches.  While a typical bank has 15 times more assets than a typical credit union, the member-owned credit unions are able to offer consumers the same retail services at typically better prices.  Credit unions don’t compete for investment banking business, so they avoid those risks […]

The End of Free Bank Checking?

The following is a link to an interesting Wall Street Journal Article.  The article discusses how regulations have increased bank costs and, logically, banks are now considering passing these costs along to consumers in the form of higher prices, such as bank fees and the end of free checking accounts.  This demonstrates that consumers are […]