Wall Street Reform

Over the past two years, America has faced the worst financial crisis since the Great Depression. It is time to restore responsibility and accountability to our financial system and provide Americans with the confidence that there is a system in a place that works for and protects them—not just the banks, hedge funds and other financial institutions.

The Democratic Party is committed to Wall Street reform that will protect American consumers from abuse and predatory practices, and it will set clear rules of the road for the financial industry that will help prevent another financial collapse. The Democratic Party has two major objectives. First is to create the strongest consumer protections in history so that Americans always get the information they need to make smart financial decisions. Second is to rein in Wall Street abuses, hold the big banks accountable, and ensure that taxpayers never again have to bail them out.

Consumer Protection

Big banks and credit card companies will be required to provide consumers with clear and transparent terms, ensuring Americans have all the information they need to compare mortgage and credit card rates and make the right financial choices for their families.

The Democratic Party will protecting consumers from unfair and deceptive practices like ballooning mortgage payments or credit card rate hikes.

Consumers will be provided with clear disclosure regarding the consequences of their financial decisions, and clear identification of costs, penalties, and risks.

Reigning in Wall Street

In the recent crisis, millions of American families saw their retirement savings or their children's college funds fall dramatically. The Democratic Party will help to make financial markets safer for investors by closing regulatory gaps and loopholes.

Wall Street reform will require tough new rules and greater transparency from investment advisors, financial brokers and hedge funds – holding them accountable while protecting investors and businesses.

The Democratic Party will strengthen oversight and aggressively pursue financial fraud, conflicts of interest and manipulation of the system that benefits the special interests at the expense of American families and businesses.

Reform will put in place tough new capital requirements, rigorous standards and supervision to ensure that no financial institution is capable of bringing down the economy, and that taxpayers are never again forced to bail out big banks because they are "too big to fail."