Financial Services

Publications

Long Live the International Entrepreneur Rule: An Opportunity to Boost Jobs and Economic Growth Is Hiding in Plain Sight

Authors: Caleb Watney, Lindsay Milliken, and Doug Rand Entrepreneurship is the engine of long-term economic growth and dynamism. For the United States in particular, foreign-born entrepreneurs have made up an extraordinary share of our most successful companies and technological achievements. To encourage the vitally important flow of immigrant entrepreneurs, and to accommodate the growing need for…

PODCAST: How One Tax Might Make Matters Worse

Colin Mortimer, the Director of the Center for New Liberalism, is joined by two special guests. First is Adam Hartke, the co-owner of a music venue in Wichita, Kansas, and the co-chair of the advocacy committee at the National Independent Venues Association. We talk about what it has been like to be a music venue owner…

Create a “Fiscal Switch” to Make Our Economy More Resilient Against Recessions

The federal government is on track to run a record-shattering $4 trillion budget deficit in 2020, in large part due to its aggressive fiscal response to the pandemic-induced recession. Some on the right have raised alarm about this borrowing, despite their support for budget-busting tax cut and border-control policies over the last three years. The…

Press

Ritz for Forbes: “What Bernie Sanders Isn’t Telling You About Social Security”

In recent days, Sen. Bernie Sanders and his campaign surrogates have accused former Vice President Joe Biden of being dishonest about his views on Social Security. Although much has been written about Biden’s position, far less scrutiny has been applied to what Sanders proposes to do with the nation’s largest federal spending program. That’s a problem, because Sanders’ agenda…

PPI’s Ben Ritz Discusses Social Security Trustees Report on C-SPAN

PPI's Ben Ritz joined an expert panel on Capitol Hill last week to discuss the recently published report by Social Security's trustees. The annual report projected that the program's trust funds face insolvency within the next 16 years, after which point beneficiaries face the prospect of an across-the-board cut of 23 percent. All panelists encouraged…

Mandel for NJ Spotlight, “It Would Be A Mistake to Make Brick-and-Mortar Retailers in NJ Accept Cash”

It would be better to go cashless, while creating new low-cost banking options for poor residents Is cash a bane or a boon? The underlying trends are clear. Across the country, from high-end salad chain Sweetgreen to the new Amazon Go stores, more and more retailers are going cashless as technology improves. For a company…

Blog

FICO rolls out new credit scoring model

Consumers are getting turned down for all sorts of financial products, from personal and auto loans to credit cards. The Wall Street Journal, using Equifax data, reports that credit card approvals totaled 483,000 in the week ending May 10, down from 856,000 in the week ending March 22. To compare to the year prior, weekly…

Economic Impacts of a Moratorium on Consumer Credit Reporting

Two bills introduced in Congress, H.R. 6370 and S. 3508, ‘‘Disaster Protection for Workers’ Credit Act of 2020’’ would impose a moratorium on credit reporting of “adverse information” for the duration of the coronavirus crisis. Credit scores are an integral part of the consumer credit underwriting process as their power to predict the likelihood of…

PODCAST: Scoring a Better Future — Getting Facts on Credit Scores & How They Work

Join Paul Weinstein, Jr., Senior Fellow at the Progressive Policy Institute in Washington, D.C., and Joanne Gaskin, Vice President of Scores and Analytics at FICO, for a discussion on the changes FICO has made to its models, and how they may impact credit scores, particularly for millennials and GenZ. Or listen to the full audio here without…