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

Trump Team Fails to Grasp Entire Nature of Regulatory Burden

By Brink Lindsey. The Hill (Online). February 24, 2017.

Overgrown Wall Street Regulation Needs a Trim in 2017

By Thaya Brook Knight. The Hill (Online). February 23, 2017.

Taxes, Red Tape Leave Greek Economy in Ruins

By Daniel J. Mitchell. The Hill (Online). February 7, 2017.

Cato Studies

Stealing Deposits: Deposit Insurance, Risk-Taking, and the Removal of Market Discipline in Early-20th-Century Banks

By Charles Calomiris and Matthew S. Jaremski. Research Briefs in Economic Policy No. 66. December 21, 2016.

The Repeal of the Glass-Steagall Act: Myth and Reality

By Oonagh McDonald. Policy Analysis No. 804. November 16, 2016.

Accounting for Rising Corporate Profits: Intangibles or Regulatory Rents?

By James Bessen. Research Briefs in Economic Policy No. 60. September 21, 2016.

Articles

Biggest Danger Is Bank Bashing

Steve H. Hanke. OMFIF Bulletin. January 2016.

Society, Finance & Freedom

Mark A. Calabria. Banking Perspective. Fall 2015.

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.

Public Filings

PHH v. Consumer Financial Protection Bureau

By Marc J. Gottridge, Allison M. Wuertz, Thaya Brook Knight, & Ilya Shapiro. Legal Briefs. March 10, 2017.

Lucia v. Securities and Exchange Commission

By Thaya Brook Knight, Ilya Shapiro, and Devin Watkins. Legal Briefs. March 10, 2017.

Kokesh v. Securities & Exchange Commission

By Mark Perry, Gabriel K. Gillett, Mark J. Cherry, Thaya Brook Knight, & Ilya Shapiro. Legal Briefs. March 3, 2017.

Cato Reviews & Journals

Regulatory Budgets

Richard A. Williams. Regulation. Regulatory Budgets.

A More Optimistic View

David R. Henderson. Regulation. A More Optimistic View.

Regulation at 40

Peter Van Doren and Thomas A. Firey. Regulation. Regulation at 40.

Events

Banking Unbound: The Cato Summit on Financial Regulation

Featuring George Selgin, Emily Ekins, and Brian Knight. June 6, 2017. Conference.

Cato in the Courts: Wall Street Edition

Featuring Ilya Shapiro and Thaya Brook Knight. December 9, 2016. Capitol Hill Briefing.

34th Annual Monetary Conference

Featuring James A. Dorn, James Grant, John A. Allison, Gerald P. O'Driscoll Jr., Kevin Dowd, Thomas Hoenig, Athanasios Orphanides, H. Robert Heller, Daniel L. Thornton, Tyler Goodspeed, George Selgin, Jerry L. Jordan, Steve H. Hanke, Walker F. Todd, & Phil Gramm. November 17, 2016. Conference.

Speeches

Money Misinterpreted and Misunderstood

By Steve H. Hanke. May 30, 2014.

Financial Regulation: Market or Government?

By Mark A. Calabria. February 13, 2013.