We need to break up the big banks, levy a speculation tax, and provide low-income families with safe and affordable banking services. We should crack down on payday lenders and other schemes that exploit vulnerable working families, offering instead safe and inexpensive banking via the postal system.

• “Voters overwhelmingly favor regulation of Wall Street and strongly support the work of the work of the Consumer Financial Protection Bureau (CFPB, 2017).
  • Seventy-eight percent of likely voters say that tough rules and enforcement are needed to prevent the kinds of practices that led to the financial crisis, with 85 percent of Democrats, 81 percent of Independents, and 67 percent of Republicans holding this view. Majorities in all parties favor more rather than less regulation of finance.
  • The mission of the CFPB, created in 2010 to shield consumers from shady industry practices, is extremely popular, with 74 percent of voters backing its work. The poll shows majority support from Democrats (85 percent), Republicans (66 percent), and Independents (77 percent). The Dodd Frank reforms writ large are supported by very similar portions of voters.
  • Substantial majorities of all parties — 78 percent of Democrats, 76 percent of Republicans and 62 percent of Republicans — say that Wall Street exerts too much influence in Washington.
• According to a 2017 joint poll conducted by the Republican Chesapeake Beach Consulting and the Democratic Lake Research Partners, voters favor strict regulation of financial institution and the goals of the controversial CFPB:
  • 91% of the respondents believe that it is important to regulate financial services, with 71% said it is very important.
  • When Dodd-Frank was explained to respondents, 74% of the respondents said they support the law, including 67% of Republicans.
  • When the CFPB was explained to voters, 77% said they favored continuation of the agency’s activities, including 80% of Democrats, 77% of independents and 66% of Republicans.
  • When the CFPB’s arbitration rule was explained, 66% of the respondents said they favored the rule, with 19% saying it would result in frivolous law suits.
• 3% of registered voters have a favorable view of payday lenders, compared to 51% with an unfavorable view. (GBA Strategies, 2018)
• A large plurality of Americans (49%) said in 2017 that the “government has not gone far enough in regulating financial institutions and markets, leaving the country at risk of another financial crisis. (PEW, 2017)
• Americans offer greater support when the issue is more specifically framed as regulating “Wall Street banks,” as opposed to “banks” more generally. (Gallup, 2010)
• 78% of likely voters say that tough rues and enforcement are need to prevent the kinds of practices that led to the financial crisis, with 85% of Democrats, 81% of Independents, and 67% of Republicans. (AFR/CRL Poll 2017).
• Americans reject the idea that some banks are so important to the US economy that they should receive taxpayer dollars when facing bankruptcy, 65% saying that “any bank and financial institution should be allowed to fail if it can no longer meet its obligations. (CATO, 2017)
• In 2010, Americans’ confidence in banks hit a historical low, with four in ten saying they had “very little” confidence in U.S. financial institutions (while a mere 20% said they had “a great deal” of confidence) (Gallup 2010).
• Americans offer greater support when the issue is more specifically framed as regulating “Wall Street banks,” as opposed to “banks” more generally. (Gallup, 2010)