Policy Shakeout from the GameStop Saga: Retail Brokers, Short Selling & Market Making
In this research commentary, Capstone discusses four policy debates we expect to emerge from the recent market volatility.February 5, 2021 – Last week’s market volatility was remarkable on many fronts—the magnitude of the GameStop Corp. (GME) short...
CFPB to Consider Overdraft Fee Limits, an Underappreciated Risk for Banks
The CFPB will likely pursue overdraft rulemaking, an underappreciated risk to 30% of net income for TD, TCF, and Regions banks.January 28, 2021 – Capstone believes the Consumer Financial Protection Bureau (CFPB) is likely to undertake rulemaking to increase...
State AGs Target Credit Acceptance’s Deep Subprime Model
The attorneys general are likely to push for “ability to repay” analyses, which would be a material negative for Credit Acceptance.September 17, 2020 – Capstone believes state attorneys general (AGs), as part of their ongoing investigations into...
Fannie, Freddie, and the Long Path Out of Government Conservatorship
Our Call: Since Capstone’s founding, our analysts have covered Fannie Mae (FNMA) and Freddie Mac (FMCC), the two government-sponsored enterprises (GSEs) placed in conservatorship in the height of the 2008 financial crisis. Before President Trump was elected in 2016,...
