Solveig Singleton and Jerome Famularo Financial service products and markets are complex, which is partly why some insist that consumers need the Consumer Financial Protection Bureau (CFPB). Ironically, the CFPB itself has failed to appreciate this complexity, enacting rules that do more harm than good because of unintended consequences. This post, the third in a series on CFPB reform, surveys ...
Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank ...
This government shutdown isn’t President Donald Trump’s first rodeo navigating a lapse in government funding — but this time, the focus is less on the White House as all eyes are locked on Congress and its budget impasse. While the 35-day shutdown during Trump’s first term centered around the president’s priorities to fund a border wall between the U.S. and ...
House Speaker Mike Johnson, R-La., dismissed the top House Democrat’s demand for a primetime debate on the government shutdown. Minority Leader Hakeem Jeffries, D-N.Y., wrote to Johnson on Monday morning challenging him to a debate on the House floor ‘any day this week,’ to be broadcast live ‘to the American people.’ Johnson suggested he would not entertain that, however, calling ...
The government shutdown entered its sixth day on Monday, and Senate Democrats are so firmly planted in their position that unless there is a deal on expiring Obamacare tax credits, they will not reopen the government. Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus have largely remained unflinching in their demand that Republicans and President Donald Trump agree to ...
Nicholas Anthony This year is the 55th anniversary of the Bank Secrecy Act. At the 50th anniversary, Michael J. Casey wrote in the Cato Journal about how “the system’s pervasive identifying, tracking, and reporting of transactions imposes very real costs on the global economy.” It’s been five years, and things have largely gotten worse. Banks filed 27.5 million reports and spent ...
Jeffrey Miron In a recent Washington Post op-ed, tax policy expert Scott Hodge reminds us that many universities engage in numerous activities that are tax-exempt but have only an indirect or modest connection to education: According to the latest Internal Revenue Service tax data … the top 100 private colleges generated $207 billion of revenue in 2023. Roughly 80 percent ...
As a member of Generation X, I grew up in the workplace with a simple rule: if your boss asked you to do something, you said “yes” and got on with it. That was the culture of the time. We didn’t often stop to ask whether the process made sense, or if there was a better way of completing the ...
If you’ve ever sat in an interview and heard a hiring manager say, “We’re like one big family here,” you might have felt reassured. After all, what could be wrong with a close-knit, supportive workplace? However according to career experts, this phrase often carries a more troubling subtext — one that could point to overwork, blurred boundaries, and even a ...
Piers Morgan’s production company has reported turnover of £17.1 million in 2024, as the broadcaster concluded his lucrative three-year deal with Rupert Murdoch’s News UK and began taking Piers Morgan Uncensored global. Newly filed accounts for Wake Up Productions, incorporated in July 2021, show cumulative revenues of £50.3 million over the three-year period — matching reports of Morgan’s £50 million ...