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

A Free-Market Agenda Maxine Waters Can Support

By Diego Zuluaga. Politico. February 27, 2019.

The CFPB Could Be a Force for Good

By Todd Zywicki. The Wall Street Journal. February 19, 2019.

Here’s Why Share Buybacks Do Not Deserve the Frosty Response

By Ryan Bourne. The Telegraph. December 24, 2018.

Cato Studies

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.

More Legislation, More Violence? The Impact of Dodd-Frank in the Democratic Republic of the Congo

By Nik Stoop and Peter van der Windt. Research Briefs in Economic Policy No. 145. January 9, 2019.

Common Ownership, Some Thoughts: An Informal Memo in Reply to Einer Elhauge

By Derek Bonett. Working Paper No. 55. December 13, 2018.

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

Re: Potential Federal Reserve Actions to Support Interbank Settlement of Faster Payments: Docket No. OP–1625

By George Selgin. Public Comments. December 14, 2018.

State National Bank of Big Spring v. Mnuchin

By Kimberly S. Hermann, Karen Harned, Luke Wake, & Ilya Shapiro. Legal Briefs. October 9, 2018.

Digital Realty v. Somers

By Ilya Shapiro and Frank Garrison. Legal Briefs. August 31, 2017.

Cato Reviews & Journals

The SEC’s Pay Ratio Regulation Reveals What We Already Knew

Sam Batkins and Ike Brannon. Regulation. Spring 2019.

Two Systems of Belief about Monopoly: The Press vs. Antitrust

Dirk Auer and Nicolas Petit. Cato Journal. Winter 2019.

An Analysis of the PBOC’s New Mobile Payment Regulation

Andrew Liu. Cato Journal. Winter 2019.

Events

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.

Fintech Unbound: The Cato Summit on Financial Regulation

Featuring Hester Peirce, Balaji Srinivasan, John Collins, Andrea O'Sullivan, Barry Wides, Ryan Zagone, Diego Zuluaga, Lydia Mashburn, Matthew Feeney, Louis Caditz-Peck, Jay Reinemann, Paul Watkins, Spencer Bogart, J.W. Verret, Hardeep Walia, Haimera Workie, & Gerald Tsai. September 12, 2018. Conference.