This report examines the debate surrounding the role of the states in regulating credit bureaus, especially in light of expiring amendments to the Fair Credit Reporting Act.

The report of the Democratic staff of the House Committee on Oversight and Government Reform--although it attempts to call my conduct into question as a member of the Financial Crisis Inquiry Commission--actually indicts the Commission.

"Fair Value" accounting is not a fact. It is a theory that has had enormously damaging real world results.

Politicians have frequently directed harsh rhetoric toward particular corporate taxpayers that earn high profits. At times, this rhetoric has been accompanied by policy proposals that single out a narrow set of profitable taxpayers for disparate treatment. Perhaps the most notable example is the war against Big Oil.

Legislators have proposed legislation that requires explicit consent from customers before their financial information is released, which would protect privacy at great cost.

States have considerable discretion in setting policy on issues ranging from education to criminal justice. Why, then, pre-empt their rights to regulate financial privacy?

Although blanket privacy protections have been proposed, Congress should pass targeted privacy laws that address particular harms while protecting legitimate uses of credit information.

Senators are threatening to block key provisions in the Fair Credit Reporting Act unless the rest of the country follows California on rules for collecting personal financial information.