United States: Financial Services

Global public debt has surged to unprecedented levels, forcing governments worldwide to confront difficult choices between rising spending commitments and limited revenue. As interest costs consume growing shares of national budgets and populations age, the political consensus needed to stabilize debt burdens remains elusive.

The Supreme Court's June 2026 decisions in Trump v. Slaughter and Trump v. Cook have created a constitutional crossroads for federal agencies and presidential power. Professor Lev Menand of Columbia Law School joins the Consumer Finance Monitor podcast to examine whether these seemingly contradictory rulings establish meaningful protections for independent agencies like the Federal Reserve, or whether they signal a fundamental restructuring of the administrative state that will reshape financial regulation

The SEC has proposed sweeping changes to performance fee rules that would allow all regulated funds—including mutual funds and ETFs—to charge performance fees on capital gains and appreciation, while simultaneously expanding access by redefining who qualifies as eligible to pay such fees. The proposal introduces a 20% cap on performance fees, new governance requirements, and enhanced disclosure obligations that could fundamentally reshape how investment advisers structure compensation arrangemen