Handicapping Financial Reform

Last decade's financial crisis sparked a flurry of new banking and finance regulation, highlighted by the Dodd–Frank Act and changes to housing finance. There is a growing realization among policy experts that that regulation has largely flopped, doing little to improve the financial system's security, but hurting the viability of small banks and increasing the ranks of unbanked people. President Trump and new Federal Reserve chair Jerome Powell can lead the reform of this regulation if they choose to do so. This article outlines some tenets of good reform