Letter to Congress: Don’t Reduce the Accuracy of Credit Reporting

ACI joins a coalition of nonprofits calling on Congress not to lower the standards for credit reporting. Reducing the predictability and accuracy of credit reporting would ultimately lead to lower scores for credit worthy consumers, thereby limiting their eligibility for home mortgage loans and other forms of credit. The letter can be read here.

ACI Sends a Letter to Congress: Please Protect Consumer Credit

Dear Speaker Pelosi, Leader McConnell, Leader McCarthy, and Leader Schumer: As a group representing millions of consumers and taxpayers, we fully understand the difficult plight affecting the vast majority of Americans due to the COVID-19 pandemic, and we support public policies that will bring them temporary tax and regulatory relief. However, we are strongly opposed […]

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 […]

ACI in Real Clear Policy: Student Loan Defaults

For most graduating from high school, the best prospects for long-term self-sufficiency lie on the other side of college graduation. The odds are even better if the field of study lies in science, technology, engineering, and math (STEM), and better yet if the student earns a post-graduate shingle. But financing a college graduation is difficult […]

Expecting a Crush of Lenders for Low Down Payment Mortgages?

The most prominent obligation for federal bank regulators – the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Controller of the Currency – is to avoid another taxpayer bailout as happened in 2008. The Troubled Asset Relief Program (TARP) infused $250 billion into banks to stabilize them.  The program was embarrassing to banks […]

ACI Blog in Huffington Post: Deficit-Free Economic Stimulation

Congress has it hands full again. With the potential of cutting government spending and raising taxes, most Democrats and Republicans have one thing they can agree on – either option could jeopardize an already weak economic recovery. But there is one win-win solution that can encourage economic investment, help small businesses grow, create jobs, and […]

The Real World Quest for Mortgages

Before Dodd-Frank, banks faced strong pressure to lend so that more people could own a home regardless of their ability to repay.   Dodd-Frank will spawn byzantine regulation enacting bank capital requirements, retention of 5% interest in securitized mortgages  and other mortgage reforms.  Most regulations required under Dodd-Frank have yet to be proclaimed, so banks are […]

Lending on the Level-Playing-Field

Warren Stephens’ commentary on “How Big Banks Threaten Our Economy” (WSJ, Opinion, April 30) discusses systemic banking risks and states correctly that “we should promote competition and innovation in the financial industry, not protect an oligopoly.”  However, he misses an important and timely example of how rules are set in favor of banks over potential […]