Marketplace lending is helping hundreds of thousands of consumers save money, refinance debt, and obtain credit on better terms than previously possible. While the industry has made do under the current system, an outdated legal and...

The collapse of the housing finance system played a pivotal role in the 2008 financial crisis and the Great Recession. Seven years later, fundamental problems with the system—especially the roles of Fannie Mae and Freddie Mac—remain...

The Milken Institute Center for Financial Markets (CFM) provided written comments to the Department of the Treasury regarding expanding access to credit through online marketplace lending. In its September 28, 2015 letter, CFM made a series...

When a borrower receives a so-called “payday loan,” he or she writes a check that is postdated to the next payday or signs over permission for the lender to make an electronic withdrawal of the amount borrowed, plus fees, on that day...

WASHINGTON, June 13, 2019 – Reforms are needed to bring transparency and accountability to proxy advisory firms, whose advice to institutional investors influence the outcome of shareholder votes on matters like executive pay, acquisitions...

In response to the recent severe financial crisis and the worst recession since the Great Depression, the U.S. Congress enacted and President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) in July...

When banks manipulate financial statements to smooth earnings, circumvent capital requirements, and reduce taxes, investors are unable to accurately evaluate their performance. Bank opacity impedes sound governance and also hampers...

Despite the House Financial Services Committee's passage of a bill to convert the Consumer Financial Protection Bureau's leadership structure from a single director to a commission, Democrats have largely opposed the bill. Industry...

Proxy advisory firms have arisen due to market failures underlying voting and the broader system of corporate governance. However, proxy advisory firms, which are not subject to mandatory regulation, reflect market failures of their own...

Foreign direct investment has never been more important in catalyzing growth, whether in the developed or developing world. Although equity markets around the world have largely recovered since the financial crisis, global capital flows...