Americans Agree on Regulating Wall Street

September 17, 2013
U.S. News & World Report 
consumer financial protection bureau news

On the fifth anniversary of the financial meltdown, the Center for Responsible Lending and Americans for Financial Reform jointly released the results of a nationwide survey of likely voters conducted earlier this summer by Lake Research Partners. Regulating financial services and products is seen as either "important" or "very important" by more than 90 percent of voters, the survey found. The Lake survey found 83 percent of voters favoring tougher rules for Wall Street financial companies, while just 9 percent thought that "they have changed enough that they don't need further regulation."

Voters also expressed strong backing for the work of the new Consumer Financial Protection Bureau and for specific consumer reforms. More than 85 percent said that banks should have to decline a debit-card purchase if a customer's account doesn't have the funds to cover it. Nearly 90 percent agreed that small-dollar lenders should have to verify a borrower's ability to repay before issuing a loan.

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