Public Strongly Backs Financial Regulation

Conservatives, despite their best efforts, have not been able to derail the financial regulation bill making its way through the Senate. In fact, rather than being derailed, the bill actually seems to be getting stronger as the legislative process continues. The reason for this is simple: The public strongly backs financial regulation legislation and that is stiffening progressive lawmakers’ resolve and weakening the conservative opposition.

The latest Washington Post/ABC News poll provides fresh evidence of the public’s views in this area. The poll found that the public, by an overwhelming 65-31 margin, supports stricter federal regulations on the way banks and other financial institutions conduct their business.

And the public heartily endorses increased regulation of the consumer financial marketplace—mortgages, auto loans, credit cards—in particular by a 59-38 margin.

This is one issue where conservatives’ attempts to confuse the public and stop progressive change seem bound to fail.

Ruy Teixeira is a Senior Fellow at the Center for American Progress. To learn more about his public opinion analysis go to the Media and Progressive Values page and the Progressive Studies program page of our website.