price controls

If You Price Control Financial Services, You Limit Financial Services

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With one foot out the door, the Biden administration’s CFPB announced a new rule to cap overdraft fees that banks charge when spotting borrowers’ money. Fortunately, the Trump administration’s subsequent efforts to rein in the CFPB ought to make similar future policy mistakes less likely. This is especially welcomed given that capping overdraft fees […]

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The CFPB Serves Moral Hazard, Not the Public

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The Consumer Financial Protection Bureau (CFPB) ostensibly exists to protect consumers. However, its recent actions raise serious concerns about whether its policies truly serve the best interests of the public. This is particularly evident in CFPB Chair Rohit Chopra’s eleventh-hour decision to cap overdraft fees charged by banks to account holders with negative balances.

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Price-Controlled Credit Cards Would Be Brutal for Retailers

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Every so often it’s worth reminding readers what a miracle shopping is. Would-be buyers walk into businesses staffed by employees and owners who haven’t a faint clue about them, only to emerge from those same businesses with the goods and services they desire. These transactions are increasingly made possible by credit-card providers. Stop and

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Price Controls (Not Global Warming) Drive Insurers Out of Florida

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There’s a price for every good and service. Always and everywhere. This is a notable point at the moment, and in light of the never-ending talk about whether home insurers will or will not continue to write policies in states like Florida. At first glance, looming exits read as very simple: hurricanes of the

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