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

How a 40-Year-Old Federal Law Is Speeding Gentrification

By Diego Zuluaga. Politico. July 24, 2019.

The Case for Market-Based CRA Reform

By Diego Zuluaga. American Banker. July 12, 2019.

Loan Interest Caps Take Credit Away from the Poor

By Diego Zuluaga. Orange County Register. June 27, 2019.

Cato Studies

Interbank Connections, Contagion, and Bank Distress in the Great Depression

By Charles W. Calomiris, Matthew S. Jaremski, and David C. Wheelock. Research Briefs in Economic Policy No. 173. July 24, 2019.

The Community Reinvestment Act in the Age of Fintech and Bank Competition

By Diego Zuluaga. Policy Analysis No. 875. July 10, 2019.

For Richer, for Poorer: Bankers’ Liability and Risk-Taking in New England, 1867–1880

By Peter Koudijs, Laura Salisbury, and Gurpal Sran. Research Briefs in Economic Policy No. 148. January 30, 2019.

Articles

A Chip off the Old Block or a New Direction for Payment Card Security? The Law and Economics of the U.S. Transition to EMV

Todd Zywicki. Michigan State Law Review. Vol. 2,018. No. 4. 2019.

Of Mergers, Government Meddling, and Chocolate

Thomas A. Firey. The Library of Economics and Liberty. September 19, 2018.

Bank Regulation: An Existential Threat

Steve H. Hanke. International Monetary Review. Vol. 4. No. 4. October 2017.

Public Filings

Seila Law LLC v. Consumer Financial Protection Bureau

By Scott A. Keller, Noah R. Mink, and Ilya Shapiro. Legal Briefs. July 29, 2019.

Public Comment Regarding 2019-2020 Physicians’ and Pharmaceutical Fee Schedule Public Hearing

By Jeffrey A. Singer. Public Comments. July 1, 2019.

Cochran v. SEC

By Russell Ryan, Ashley Parrish, Ilya Shapiro, & William Yeatman. Legal Briefs. June 17, 2019.

Events

Financial Inclusion: The Cato Summit on Financial Regulation

Featuring George Selgin, Lydia Mashburn, Dan Quan, Diego Zuluaga, & Todd Zywicki. June 12, 2019. Conference.

Promoting Fintech Innovation and Consumer Choice: The Role of Regulatory Sandboxes

Featuring Diego Zuluaga, Todd Zywicki, Conan French, Paul Watkins, & Eric Mogilnicki. January 17, 2019. Policy Forum.

36th Annual Monetary Conference: Monetary Policy 10 Years after the Crisis

Featuring Peter Goettler, George Selgin, James A. Dorn, Lydia Mashburn, Rep. Jeb Hensarling, Phil Gramm, Claudio Borio, Josh Zumbrun, Stephen D. Williamson, Peter Ireland, Tobias Adrian, Vincent R. Reinhart, Ylan Mui, Michael D. Bordo, Joseph E. Gagnon, David Beckworth, John A. Allison, Jeffrey M. Lacker, Scott Sumner, & Jeffrey Frankel. November 15, 2018. Conference.