The President’s Working Group for Regulating Stablecoins: An Alternative Approach

Stablecoins are a relatively new means of exchange within the payments system. They have many of the characteristics of money, serving as a store of value and a medium of exchange, although…

Central Bank Digital Currency: To What Effect?

Introduction

Digital currencies are not new to the financial system, but innovations around them are changing how payments are made, what money is, and how banking is conducted globally. Central banks obviously are affected…

Financial Engineering Is Probably Not an Important Systemic Problem

Does Limiting Maximum Loan Limits Help Decrease Home Prices?

Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA) all have maximum loan limits that are updated each year. This year, in both cases, they have been updated to reflect market conditions, and those market…

Why Using the CRA to get rid of the “True Lender” rule is a bad idea (even if you don’t like the rule)

It isn’t surprising that with a change in party control over the Presidency and Congress there would be an effort to undo some of the rules put in place by…

On Wyoming’s New Anti-Financial Discrimination Law

“Corporate Democracy” and Political Activism: Do Previous Assumptions Still Hold?

Corporations are becoming more active in political matters, with more pressure being placed on CEOs to take stands and even make business decisions in order to influence policy decisions…