Stripping away government regulation of banking would help both consumers and businesses. Consumers would be able to obtain a mix of financial services tailored to their individual needs for less cost and with greater security than is currently the case. Businesses could more easily acquire loans, insurance, and capital, all necessary for operating in a more competitive and integrated world economy.

But those benefits will only be realized if government steps aside and allows banks and customers to manage their own affairs. Financial institutions in other countries often are freer than those in America, putting many foreign firms at a competitive advantage over American ones. It is time to establish a level playing field by removing counterproductive regulation of American banks.

More on Financial Regulation

Commentary

Too Big to Fail

By Mark A. Calabria. Morning Consult. July 2, 2015.

Disclosure Rules Are the Wrong Way to Push Social Change

By Thaya Brook Knight. American Banker. June 24, 2015.

FDIC Invents Costly Solution to Imaginary Problem

By Bert Ely. American Banker. June 17, 2015.

Cato Studies

The Supply of Transaction Assets, Nominal Income, and Monetary Policy Transmission

By Joshua R. Hendrickson and David Beckworth. Working Paper No. 31. June 23, 2015.

International Developments in the Insurance Sector: The Road to Financial Instability?

By Therese M. Vaughan and Mark A. Calabria. Working Paper No. 30. May 27, 2015.

The Limits of Model-Based Regulation

By Rainer Haselmann and Vikrant Vig. Research Briefs in Economic Policy No. 25. April 29, 2015.

Articles

The Productivity Gap: Monetary Policy, the Subprime Boom, and the Post-2001 Productivity Surge

George Selgin, David Beckworth, and Berrak Bahadir. Journal of Policy Modeling. Vol. 37. No. 2. March 2015.

On the Political Possibility of Separating Banking and the State

Mark A. Calabria. The Journal of Private Enterprise. Vol. 29. No. 3. Fall 2014.

Would Consolidating Regulators Avoid the Next Crisis?

Mark A. Calabria. Lombard Street. Vol. 1. No. 16. November 15, 2009.

Public Filings

On “Regulatory Burdens to Obtaining Mortgage Credit”

By Mark A. Calabria. Testimony. April 16, 2015.

Draft Model Regulatory Framework for Digital Currency Regulatory Regimes

By Jim Harper. Public Comments. February 9, 2015.

Yates v. United States

By Bradley J. Bondi, Joseph J. Bial, Lex Urban, Christopher Jones, Ilya Shapiro, & Trevor Burrus. Legal Briefs. July 7, 2014.

Cato Reviews & Journals

Current Evidence on the Resource Costs of Irredeemable Paper Money

Tyler Watts and Lukas Snyder. Cato Journal. Spring/Summer 2015.

The Swiss Experiment: From the Lower Bound to Flexible Exchange Rates

Peter Bernholz. Cato Journal. Spring/Summer 2015.

The Market for Cryptocurrencies

Lawrence H. White. Cato Journal. Spring/Summer 2015.

Events

Capital Unbound: The Cato Summit on Financial Regulation

Featuring Mark A. Calabria, Kevin Dowd, George Selgin, & Thaya Brook Knight. June 2, 2015. Conference.

Wasting a Crisis: Why Securities Regulation Fails

Featuring Thaya Brook Knight. May 13, 2015. Book Forum.

Should GAO Audit the Federal Reserve?

Featuring Mark A. Calabria. April 17, 2015. Policy Forum.

Speeches

Money Misinterpreted and Misunderstood

By Steve H. Hanke. May 30, 2014.

Financial Regulation: Market or Government?

By Mark A. Calabria. February 13, 2013.