Consumer Bureau Harms Those It Claims to Protect

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January 23, 2013     |    Discover more at Heritage's Enterprise and Free Markets webpage

The CFPB in Action Harms More Than It Protects The Consumer Financial Protection Bureau (CFPB) was created in 2010 by the Dodd–Frank Wall Street Reform and Consumer Protection Act, and imbued with unparalleled powers over virtually every consumer financial product and service. With rulemaking and enforcement now underway, there is ample evidence that agency operations represent a radical departure from long-standing regulatory standards. The CFPB’s actions are constricting the availability of financial products and services and raising costs—all of which will undermine business investment and consumer credit. Immediate reforms are necessary to impose accountability on the bureau. Ultimately, the CFPB should be eliminated and replaced by coordinated oversight of various enforcement functions among other financial regulators. CONTINUE READING >>

A Housing Market Without Fannie and Freddie Doesn't Hurt Economy What would the potential impact on the economy be if Fannie Mae and Freddie Mac—the housing finance government-sponsored enterprises (GSEs)—were eliminated? Our research indicates that winding down Fannie Mae and Freddie Mac from the mortgage market would have a minimal and predictable effect on the economy. READ MORE >>

A Note to President Hollande: Investors say "Oui" to Economic Freedom French President Francois Hollande and his marketing gurus are on the offensive with their “Say Oui to France” campaign, meant to convince investors that the French economy is worthy of their money. Among the selling points: France’s large population; thriving nuclear, aerospace, and chemical sectors; and good location. According to Industry Minister Arnaud Montebourg, these attributes make France “extremely competitive, better than Japan, Australia, the US and Italy.” SAY OUI AND READ ON >>

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