CEI Daily - Bank of America, Sports Betting, and Regulation

Bank of America


After announcing that they would impose new debit card fees on costumers in response to Dodd-Frank, Bank of America has backtracked and announced they've changed their minds.


Director of the Center for Investors and Entrepreneurs John Berlau comments.


"Long before BofA and the other banks announced plans for this specific fee, there was bipartisan concern — including that of Democratic National Committee Chair Debbie Wasserman Schultz – that the the Durbin price controls would shift the costs of processing debit cards from some of  the nation’s wealthiest retailers to hard-pressed consumers. And despite the dropping of these specific fees, these fears have proven to be justified."




Sports Betting


New Jersey voters will soon vote on whether or to legalize sports betting in the state.


Policy Analyst Michelle Minton comments.


"According to preliminary results, residents overwhelming favor legalization. Yet, even if residents are 100 percent in favor of sports betting, the process of actually making it legal, like a “Jersey Shore” character, is going to be loud and ugly. That’s because there are several federal laws that make the activity illegal in all but four states."






Over Halloween weekend, Research Associate Matthew Melchiorre penned an op-ed in The Daily Caller on Uncle Sam as a "goblin" of frightening regulations.


Read here.