Financial Services Deregulation
Should Congress ease up on Wall Street?
By Jonathan Broder
Signs in Birmingham, Ala., advertise payday loan stores, which lend relatively small sums of money, often at high interest rates, to lower-income Americans. Critics say payday loans trap borrowers in a cycle of escalating debt, but advocates say they aid people in need of fast cash. (Cover: Getty Images/Bloomberg/Gary Tramontina)
The Trump administration is seeking to weaken the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, a broad set of regulations aimed at preventing a repeat of the 2007–09 financial crisis. The law requires banks and other financial companies to set aside large cash reserves to deal with problem loans or other failures that could drag down the entire economy. In addition, Dodd-Frank cracks down on consumer loan fraud and bars financial institutions from making speculative investments with their own capital. Many Democrats and consumer groups argue that Dodd-Frank has added crucial safeguards without hurting the banking industry's profitability. But industry officials and conservative Republicans contend that Dodd-Frank has stifled economic growth and hurt consumers by over-regulating banks, credit card companies, payday lenders and other financial services firms. Meanwhile, some analysts worry that the largest banks could still pose a threat to the nation's economy if growth slows.
Apr. 06, 2018 Financial Services Deregulation
Sep. 26, 2014 Digital Currency
Oct. 05, 2012 Euro Crisis
Jan. 20, 2012 Financial Misconduct
Jan. 13, 2012 'Occupy' Movement
Oct. 24, 2008 Financial Bailout
Sep. 01, 2000 The Federal Reserve
Jun. 22, 1990 S&L Bailout: Assessing the Impact
Nov. 04, 1988 Behind the S&L Crisis
Apr. 26, 1985 New Era in Banking
Nov. 18, 1983 Bankruptcy's Thriving Business
Aug. 07, 1981 Banking Deregulation
Jul. 19, 1974 Banking Stability
Jul. 17, 1968 Banking Innovations
May 06, 1964 Monetary Policy in Prosperity
May 16, 1940 Revision of the Securities Acts
Feb. 27, 1937 Expansion of Branch Banking
Sep. 03, 1935 The Decline of Commercial Banking
Dec. 11, 1934 Proposals for a Government-Owned Central Bank
Sep. 12, 1934 Bank Reserves and Credit Inflation
Nov. 27, 1933 Bank Credit in Depression and Recovery
Aug. 12, 1933 Closed Banks and Banking Reform
Apr. 04, 1933 Unified Control of Banking
Apr. 09, 1932 The Glass Banking Bill
Mar. 24, 1932 The Guaranty of Bank Deposits
Apr. 17, 1930 The International Bank and the Gold Standard
Feb. 08, 1930 Branch Banking and Chain Banking
Apr. 29, 1929 Mergers of Banking Institutions
Oct. 28, 1927 The Federal Reserve Rate Controversy
May 21, 1927 Labor Banking and Finance Since 1920
Jan. 31, 1924 The Northwestern Bank Failures and the Attack on Treasury Savings Certificates
Dec. 01, 1923 Why State Banks Do Not Join the Federal Reserve System, the Effect on the System and the Issues Involved
Nov. 23, 1923 Branch Bank Controversy
Congress Actions
Consumer Credit and Debt
Economic Crises
General International Relations
Investment and the Stock Market
Mortgage Loans and Home Finance
Regulation and Deregulation