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1 month ago | 
truthonthemarket.com | Julian Morris |Eric Fruits |Brian Albrecht |Geoffrey Manne
U.S. Reps. Anna Paulina Luna (R-Fla.) and Alexandria Ocasio Cortes (D-N.Y.) have introduced legislation that would cap credit-card interest rates at 10%, with the claim that it would help poorer Americans. Unfortunately, both economic theory and centuries of evidence demonstrate that the effect would be quite the opposite.
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2 months ago | 
truthonthemarket.com | Ben Sperry |Alden Abbott |Eric Fruits |Julian Morris
Children’s online safety is back on the agenda with the U.S. Senate Commerce Committee’s recent markup of the Kids Off Social Media Act (KOSMA). That bill would make social-media platforms liable for allowing kids under age 13 to create or maintain a profile. But it’s worth considering whether KOSMA could possibly be effective if kids (and teens) continue to lie to create social-media profiles—sometimes, even with help from their parents.
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2 months ago | 
truthonthemarket.com | Alden Abbott |Eric Fruits |Julian Morris |Kristian Stout
New licensing guidelines issued by the National Institutes of Health (NIH) at the end of the Biden administration could undermine American innovation in the biomedical field—a sector in which the United States has long been the world leader. In a period of growing international competition, including threats from China, the Trump administration may want to closely examine and consider rescinding the new NIH guidelines.
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2 months ago | 
truthonthemarket.com | Julian Morris |Brian Albrecht
In 2022, and then again in 2023, Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) introduced legislation that would have required U.S. issuers of most Visa- and Mastercard-branded credit cards to include a second network on their cards, and to allow merchants to route transactions on a network other than the primary network branded on the card. A recent study by Oxford Economics, however, cautions that such legislation could do immense harm to the American economy.
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2 months ago | 
laweconcenter.org | Julian Morris |Julian Morris
Julian Morris, senior scholar at ICLE, was quoted in this Fortune article about what customers can expect from the Capital One and Discover merger. Read the full article here. For now, analysts suggest that Capital One might take a more cautious approach toward moving all cards to Discover right away.
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Dec 19, 2024 | 
truthonthemarket.com | Julian Morris
It’s a dreary December morning and, on your way to work, you stop at a coffee shop. There are only three people in line, so you assume you’ll be served quickly. But after a few minutes, you notice the customer at the front of the queue fumbling as they laboriously count out the exact change.
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Dec 16, 2024 | 
truthonthemarket.com | Julian Morris
The Consumer Financial Protection Bureau (CFPB) announced a final rule last week to impose price controls and onerous disclosure rules on overdraft fees charged by those banks and credit unions with assets of more than $10 billion. At first glance, such interventions might seem like a win for consumers, particularly those with low incomes who are more likely to run into short-term liquidity problems. In practice, however, the new regulations will almost certainly backfire.
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Nov 29, 2024 | 
caymancompass.com | Julian Morris
By Julian MorrisAs the Compass reported last week, in the build up to the Joint Ministerial Council meeting in London, various British politicians, NGOs and journalists claimed that public beneficial ownership registers are the “only way to stop dirty money that underpins crime,” as a Guardian headline put it. This is simply untrue.
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Nov 8, 2024 | 
truthonthemarket.com | Daniel Gilman |Kristian Stout |John Yun |Julian Morris
You’re no doubt aware that we’ve had a presidential election since my last column. Agency news seems pallid, in comparison, but those of you who’ve come here looking for deep insights into what it all means are liable to be disappointed, not to mention zero in number. “The Meaning of Life” is a movie by Monty Python. I recommend it. Staying closer to my lane, I’d like to tell you what the vote means for antitrust; I just don’t happen to know what that is.
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Nov 7, 2024 | 
truthonthemarket.com | Kristian Stout |John Yun |Julian Morris |Shivanghi Sukumar
With Donald Trump’s victory in this week’s presidential election, the federal government’s approach to the regulation of artificial intelligence (AI) stands at a crucial inflection point. While there may be pressure to rush through AI legislation during Congress’ upcoming lame-duck session, such haste could prove counterproductive for U.S. leadership in AI development.
