Nearly five years after the financial crisis and three years since passage of the Dodd-Frank Act, Americans across lines of race, age, geography and political affiliation who “strongly” support tougher rules for Wall Street jumped 10 percentage points over those favoring such reform last year, according to a study by Lake Research Partners.
The survey of 1,004 likely 2014 voters, conducted between July 8 and July 11 on behalf of Americans for Financial Reform, found that 83% of likely voters support stronger rules and enforcement, compared to 9% who said the financial world has changed its ways and doesn’t need further reform. In 2012, the pro-reform position was favored by 73% of those surveyed, while in 2011 the figure was 77%.
The survey also found that nearly two-thirds (63%) of those polled identify with the view that Wall Street must be held accountable and prevented from repeating past actions; even among Republicans, only a minority (41%) identify with the opposing view that excessive regulation will hurt the economy, the survey found.
After hearing a short description, eight in 10 voters favor the Consumer Financial Protection Bureau, and nearly half (49%) “strongly” favor it.
Two recently introduced bipartisan bills—the 21st Century Glass-Steagall Act and the Brown-Vitter bill—attempt to make the financial system safer and more accountable.