In March 2013, the Consumer Financial Protection Bureau (CFPB) issued guidance stating that auto finance sources would be held accountable for discriminatory pricing resulting from the indirect financing practice known as dealer reserve. This attack on a longstanding and previously unquestioned industry standard was amped up on September 17, 2014, when the CFPB proposed expanding its oversight to non-bank auto lenders, such as Ford Motor Credit Co. and Toyota Financial Services. Although the agency contends that its regulations are necessary to fight discrimination in lending practices and protect consumers, the CFPB has not produced reliable evidence to support its claims.
The Consumer Financial Protection Racket – er, Bureau
The Cambridge Dictionary defines a “protection racket” as “a situation in which a criminal group demands money from a store owner, company, etc. in exchange for agreeing not to harm them: run a protection racket [:] These thugs ran a vast protection racket with which all property-owners had to co-operate if they hoped to survive.”
End Ex-Im Once and For All
This fall, Congress will have an opportunity to shut off a massive spigot of corporate welfare that costs taxpayers hundreds of millions of dollars each year. All that senators and representatives have to do is what they do best: absolutely nothing. When the authorization for the Export-Import Bank (Ex-Im Bank) expires on September 30, 2014, Congress should not renew its charter.
World Intellectual Property Day Is April 26
World Intellectual Property Day is April 26, 2014. Set aside by the international community in 2000, as a day to increase and promote a general understanding of intellectual property (IP), this event is recognized worldwide at numerous events. Among those events this year was the 2014 IP Champions Conference, held on April 23, 2014 by the […]
Obamaloans: The Bank of ACORN
After the public humiliation of the Association of Community Organizations for Reform Now (ACORN) in late 2009 and its subsequent dissolution (at least at the national level) by early 2010, one might have thought that the national shakedown group was dead and buried. But like a decapitated hydra, another beastly head has already taken its […]
Lights, Camera, Action? Not Without Tax Incentives
State governments across the country have enacted movie production incentives (MPIs), most commonly through tax credits, in an attempt to lure that business to their states. While the expenditures on these tax incentives are easily quantifiable, the same cannot be said for the benefits that their supporters claim are produced.
India Bottoms Out on IP Protection
On January 29, 2014, the Global Intellectual Property Center released its second annual intellectual property index, rating how various countries around the world performed on protecting intellectual property (IP). The points were awarded six categories: Patents, Related Rights, and Limitations (7 points); Copyrights, Related Rights and Limitations (6 points); Trademarks, Related Rights, and limitations (5 […]
IP Summit 2013 Highlights Protecting Intellectual Property
On Friday, November 8, 2013, I had the opportunity to attend IP Summit 2013, hosted by the U.S. Chamber of Commerce Global Intellectual Property Center. This daylong conference highlighted the importance of protecting intellectual property (IP) from counterfeiting, theft, and black market merchandising. When talking about the protection of IP, few understand the full breadth […]
Geez, Louise: Let’s Squeeze the GSEs!
Joe and Teresa Giudice, aka one of the “Real Housewives of New Jersey,” are fresh off of a 39-count indictment for mail fraud, wire/bank/bankruptcy fraud and making false statements on mortgage loan applications. And when it comes to misleading mortgage-related information, their anthropomorphic equivalent may just be that government-sponsored (and now owned) enterprise (GSE) couple, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, aka Fannie Mae and Freddie Mac.
CAGW’s Prime Cuts Hones in On Programmatic Waste
Every year, Citizens Against Government Waste produces Prime Cuts, a comprehensive list of spending cuts that could be used by Congress to reduce spending and keep the budget under the Budget Control Act spending caps. Here are just a few of the programs CAGW includes in its Prime Cuts report. Eliminate the Rural Utilities Service 1-Year […]