Politicians often forget that the more they prescribe how companies deliver a service, the costlier and less accessible it becomes.
The excessive regulation of consumer credit is a prime example of this maxim. For instance, at the federal level, the Dodd-Frank Act and the numerous regulations issued by Consumer Financial Protection Bureau effectively increased the cost of providing credit in their efforts to protect consumers, resulting in millions of low-income households being denied the ability to obtain credit. Why would North Carolina want to replicate that here?
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