The Presidential Candidates on Financial and Banking Regulations

With the upcoming presidential election, it is important to have an idea regarding the candidates' views on banking and financial regulations. In general, the Democrats are in favor of continuing the ever-increasing regulations of the Obama Administration, while the Republicans would repeal, or...

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Bibliographic Details
Published inMichigan Banker Vol. 28; no. 1; p. 4
Main Author Cooper, Charles M
Format Trade Publication Article
LanguageEnglish
Published Lansing Public Relation Enterprises, Inc 01.01.2016
Subjects
Bailouts
Banking industry
Banks
Candidates
Congressional investigations
Cost control
Employment
Financial services
Fines & penalties
Hedge funds
Political campaigns
Political power
Presidential elections
Primaries & caucuses
Regulation of financial institutions
Transparency
Wall Street Reform & Consumer Protection Act 2010-US
United States > US
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Summary:With the upcoming presidential election, it is important to have an idea regarding the candidates' views on banking and financial regulations. In general, the Democrats are in favor of continuing the ever-increasing regulations of the Obama Administration, while the Republicans would repeal, or at least take a close look at replacing them, with favorite targets including the Federal Reserve, the CFPB, and Dodd-Frank. Hillary Clinton plans to deal with dangerous risks in the financial system by imposing a risk fee on the largest financial institutions, requiring them to pay a fee based on their size and their risk of contributing to another financial crisis. Bernie Sanders believes that banks and other financial institutions have far too much economic and political power, and that this power endangers the US economy as well as the political process. To counter this, he proposes the "Too Big to Fail, Too Big to Exist Act" to break up the big banks and prohibit any too-big-to-fail institutions from accessing the Federal Reserve's discount facilities or using insured deposits for risky activities.
ISSN:1044-1948