Introduction by John Baden Prof. Todd Zywicki, a member of FREE’s Board of Trustees, is an economist and law professor at George Mason University. He is a graduate of Dartmouth, Clemson, and U VA and editor of the Supreme Court Economic Review. Todd is a frequent contributor to the Wall Street Journal and a prolific […]
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From The Wall Street Journal Online September 29, 2011 This Saturday, government price controls on debit card interchange fees (which card issuers charge to merchants) go into effect. The controls are the result of the Durbin amendment to last year\’s Dodd-Frank financial reform legislation. They were enacted at the behest of big-box retailers such as […]
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From The Wall Street Journal (January 4, 2011) The least surprising event of 2010 was that, in the wake of new federal limits on how credit-card issuers can price risk and adjust interest rates, more Americans had to go to payday lenders, pawn shops and local loan sharks in order to get credit. It’s simply […]
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Every loan bears some risk that it will not be repaid. In making a loan, a prudent lender will accurately price the risk of the loan. Regulations that interfere with the ability to price risk accurately leads lenders to reduce their risk exposure by curtailing lending. Since President Obama’s comprehensive financial overhaul bill would fundamentally […]
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