Press / Financial Services

Press

By / 10.22.2014

The Consumer Financial Protection Bureau (CFPB) is touted as one of the crowning achievements of the Dodd-Frank Act. But a new CFPB report on student loans is highly flawed, raising doubts about its regulatory reach over the private student-loan market. The CFPB was created to bring all consumer financial products under one regulatory umbrella. It […]

By / 7.1.2014

Long dogged by claims of corporate welfare, the Export-Import Bank (Ex-Im) finds itself once again fighting for its survival. At 80 years old, Ex-Im has always won the fight. But this time, a “third option” of reform might just be what it needs — one that focuses on making the agency better, not closing its […]

By / 3.28.2014

Yesterday’s hearing of the Senate Health, Education, Labor and Pensions (HELP) Committee on student loans seemed to clearly answer the question of who is to blame for our $1.2 trillion and climbing student debt debacle. The only problem is, it was inaccurate. That makes the conversation unproductive regarding making federal aid policy effective. If you believed the […]

By / 9.25.2013

Last week, JP Morgan Chase settled with regulators in both the United States and United Kingdom over massive losses suffered in the 2012 “London Whale” trading fiasco. Chase, America‘s largest bank, fessed up to wrongdoing and agreed to pay a stiff $920 million fine. As part of the agreement, regulators agreed not to pursue further […]

By / 9.17.2013

Five years ago this week, a collapsing housing bubble plunged America into its worst financial crisis since the Depression. Wall Street’s near meltdown midwifed both the tea party and the Occupy movement, and triggered a bitter debate about the big banks that continues to this day. The ongoing controversy over whether we have solved or […]

By / 7.10.2013

Last week, New York Attorney General Eric Schneiderman started looking into the controversial new practice of issuing workers debit cards in lieu of paychecks. The practice first came to light last month when an employee of a McDonald’s franchise in Pennsylvania sued over being forced to accept pay in the form of debit cards. Soon […]

By / 7.3.2013

Mortgage rates have been scraping the cellar floor in recent years, bottoming out at around 3.5 percent for 30-year loans. Economics 101 says cheap money can’t last forever and, sure enough, goverment backed mortgage giant Freddie Mac reported last week that fixed rates jumped, now up a full percentage point, to 4.5 percent For the […]

The Atlantic highlights PPI’s proposal to create “HomeK” accounts for home buyers to aid in the purchase of new homes. The article further suggests that such accounts could replace mortgage interest deductions. The mortgage interest deduction probably isn’t going anywhere soon. Voters are far too fond of it, and politicians are loathe to nix a […]

By / 10.26.2011

In the Atlantic, PPI Chief Economic Strategist Michael Mandel discusses the two possible solutions for escaping the current economic disaster — innovation and inflation: It all comes down to this: We have to match growth to debt. If we can’t create miracles from growth, we have to consider inflation to reduce the value of our […]

By / 6.1.2011

Amid the high drama of fiscal brinkmanship in Washington, it’s easy to forget that reducing budget deficits isn’t the biggest economic challenge we face. Even more important is kick-starting the great American job machine and reversing our country’s slide in global competition. Critical to both goals is shoring up the decaying physical foundations of national […]