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

Government Corruption on the Rampage

By Richard W. Rahn. Washington Times. July 22, 2014.

Financial Tyranny against Political Enemies

By Richard W. Rahn. Washington Times. May 26, 2014.

Don’t Be Fooled by Taper Talk

By Steve H. Hanke. Globe Asia. May 22, 2014.

Cato Studies

Fiscal Uncertainty and Economic Activity

By Jesús Fernández-Villaverde, Pablo Guerrón-Quintana, Keith Kuester & Juan Rubio-Ramírez. Research Briefs in Economic Policy No. 4. June 18, 2014.

The New Autarky? How U.S. and UK Domestic and Foreign Banking Proposals Threaten Global Growth

By Louise Bennetts and Arthur S. Long. Policy Analysis No. 743. November 21, 2013.

High Frequency Trading: Do Regulators Need to Control this Tool of Informationally Efficient Markets?

By Holly A. Bell. Policy Analysis No. 731. July 22, 2013.

Articles

Would Consolidating Regulators Avoid the Next Crisis?

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

Public Filings

Yates v. United States

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

WFC Holdings Corp. v. United States

By Matthew S. Hellman, Matthew S. McKenzie, R. Trent McCotter & Ilya Shapiro. Legal Briefs. March 31, 2014.

Regulatory Fragmentation, the Balkanization of Financial Markets and the Competitiveness of the American Financial Services Sector

By Louise Bennetts. Testimony. March 4, 2014.

Cato Reviews & Journals

Should Penny Auctions Be Regulated under Gaming Law?

Michael Caldara. Regulation. Summer 2014.

The Explicit Costs of Government Deposit Insurance

Thomas L. Hogan and William J. Luther. Cato Journal. Winter 2014.

Contingent Liability, Capital Requirements, and Financial Reform

Joshua R. Hendrickson. Cato Journal. Winter 2014.

Events

After Dodd-Frank: The Future of Financial Markets

Featuring John A. Allison, Mark A. Calabria and Louise Bennetts. July 16, 2014, July 17, 2014. Conference.

Growing Pains: Dodd-Frank’s Third Anniversary: Has It All Been Worth It?

Featuring Mark A. Calabria and Louise Bennetts. July 22, 2013. Conference.

Super-Legislatures: Evaluating Dodd-Frank’s CFPB and OLA Provisions and Obamacare’s IPAB

Featuring Michael F. Cannon, Louise Bennetts and Trevor Burrus. April 1, 2013. Policy Forum.

Speeches

Financial Regulation: Market or Government?

By Mark A. Calabria. February 13, 2013.