Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law. The lawyers in the firm are also counsel to the international law firm, Squire Patton Boggs.

ISSUE: #70, April 2016

The Longbrake Letter
- Bill Longbrake
In this month's letter, Bill Longbrake shares his worries about global economic and political trends along with summaries of similar concerns expressed in the International Monetary Fund's World Economic Outlook and by the editor-in-chief, Zanny Beddoes, of The Economist. He also explores reasons for the surprising strength of Donald Trump and Bernie Sanders in this year's presidential campaign. In addition to regular updates about the U.S. economic outlook, he provides a review of a recently published book, The Smartest Places on Earth, by Antoine van Agtmael and Fred Bakker, which describes how brain-belts that are emerging in the U.S. and Europe will reverse the global competitive advantage held in recent years by emerging economies.

Did Dodd-Frank Solve or Create Problems?
- Bob Barnett
Have the new rules dictated or encouraged by newly passed laws create a better safer economy or one that only appears to be better and safer? Time will be needed to thoroughly test this question, but there are some indications that what rationally appears to be good ideas to create a safer world may be creating problems in unintended ways.

Little Action in CFPB's No-Action Letter Policy
- Jim Sivon and Katie Wechsler
This past February, the CFPB finalized a policy on No-Action Letters. While designed to improve access to consumer financial products and services, it is subject to various conditions that will limit its utility. This article explains the Policy and suggests several ways in which it could be modified to make it a more useful tool for financial services firms and the consumers of financial services.