Let ’em have it; regulation, that is
About two-thirds of Americans support stricter regulations on the way banks and other financial institutions conduct their business, according to a new Washington Post-ABC News poll.
Majorities also back two main components of legislation that congressional Democrats plan to bring to a vote in the Senate this week: Greater federal oversight of consumer loans and a company-paid fund that would cover the costs of dismantling failed firms that put the broader economy at risk.
A third pillar of the reform effort draws a more even split: 43 percent support federal regulation of the derivatives market; 41 percent are opposed.
As a partisan issue, the area with the highest levels of cross-party support is on more robust federal oversight of the way banks and other financial companies make consumer loans, such as auto loans, credit cards and mortgages. Here, 44 percent of Republicans approve of stricter guidelines, joining 75 percent of Democrats and 57 percent of independents on the issue.
This poll found equal support for regulating banks and other financial institutions as well as Wall Street firms.
The U.S. Senate is scheduled to vote at 4 p.m. Iowa time on a procedural effort to move the legislation to the floor for full debate or to continue negotiations.