CUNA MUTUAL GROUP: Majority Favor More Regulation Of Large Banks

CUNA Mutual Group issued the following announcement on Dec. 12.

WASHINGTON—Fifty-eight percent of registered voters strongly or somewhat support more government regulation and oversight of some large banks, according to one

new survey.

The recent Morning Consult survey of 1,957 voters, which has a margin of error of 2 percentage points, found that 20% of voters said they either somewhat or strongly opposed additional oversight, while 22% did not know or had no opinion.

Democratic voters largely drove support for more regulation and oversight, with 76% saying they would support increased supervision, compared to a 41% plurality of Republicans said the same. Thirty-four percent of GOP voters oppose such measures, the poll shows.

“Rep. Maxine Waters (D-CA) has indicated that she will set a more strict oversight agenda on large banks when she takes control of the House Financial Services Committee in January. That would include opposing deregulation measures — as well as calling in the executives of some large banks such as Wells Fargo & Co., the subject of a series of sales-related scandals, and Deutsche Bank AG, which has come under fire for its close relationship with President Donald Trump, to testify in front of the committee,” Morning Consult said.

“Make no mistake, come January in this committee, the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said at a recent hearing with Federal Reserve Vice Chairman for Supervision Randal Quarles.

Original source can be found here.

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