Tag: Competitive Enterprise Institute

Dodd-Frank’s Dire Legacy: Durbin Amendment

By Iain Murray This week was the fifth anniversary of the passage of the Wall Street Reform and Consumer Protection Act, better known as Dodd-Frank. As the Mercatus Center revealed this week, it may be the biggest law ever written, because it gives the administration so much discretionary power to make secondary law. It has harmed consumers by reducing choice in financial services and failed to solve the problems it was purported to solve, as I outline in my new paper, How Dodd Frank Harms Main Street. One of the worst examples of this stems from the Durbin Amendment, a last minute addition to the bill that gives the Federal Reserve the power to cap interchange fees charged… View Article
(The Georgia Public Policy Foundation and the Competitive Enterprise Institute released this Issue Analysis that discusses the impact of federal banking laws in Georgia.) By John Berlau   Few states have been hit as hard by the financial crisis as Georgia.  With her economic engine humming and unemployment hovering around 5 percent for several years until 2008, Georgia suddenly saw thousands of mortgages our and dozens of banks fail in a slide that continues to this day. The Federal Deposit Insurance Corporation has closed at least 80 banks in Georgia since 2008, more bank failures than in any other state in the union.  Even the largest banks in the Peach State are facing a struggle.  In March, Atlanta-based Sun Trust… View Article
By Kelly McCutchen and John Berlau The news that Bank of America is again testing new fees is likely to prompt even more consumers, in Georgia and other states, to take their business away from big financial institutions and give it to regional banks and credit unions. While competition is the American way, it’s important to note that Bank of America and other banks are responding to federal price controls that raise costs for debit card processing. Now, smaller banks and credit unions (and their customers) are at risk from the same Washington price controls. These price controls, contained in the Durbin Amendment of “Dodd-Frank,” the so-called financial reform law Congress rammed through in 2010, offer no tangible benefits to… View Article

The Georgia Public Policy Foundation has forged over the years many positive changes in Georgia, in its nonpartisan but very specific way.

U.S. Senator Johnny Isakson more quotes