Most Americans support stricter financial regulation - Poll

By Paul Steinhauser, deputy political director


WASHINGTON (CNN) -- Hours before a showdown in the Senate over the Democrats' financial reform legislation, a new national poll indicates that nearly two-thirds of Americans support stricter regulations of banks and Wall Street firms.

According to an ABC News/Washington Post survey released Monday morning, 65% of the public supports stricter federal regulations on the way banks and other financial institutions conduct their business, with 31% opposed.

A majority of people questioned in a CNN/Opinion Research Corporation poll conducted last month also favored greater government regulation of banks and other financial institutions.

Taking a look at some of the provisions in the legislation, the ABC News/Washington Post survey indicates that nearly six in ten back increasing federal oversight of the way banks and other financial companies issue credit cards and make consumer loans, such as mortgages and auto loans.

And 53% support requiring large banks and other financial companies to put money into a fund that would cover the cost of taking over and breaking up any large financial company that fails and threatens the broader economy; 42% are opposed.

But according to the poll, Americans are divided on allowing the federal government to regulate the complex financial instruments known as derivatives, with a large number who seem unfamiliar with the issue. Opinion is split with 43% in favor and 41% opposed; 17% have no opinion.

The public is also split at 48% on approval of how President Barack Obama has handled regulation of Wall Street and the big banks, but the public trusts him on this issue more than they do the GOP. The survey indicates that 52% think Obama would do a better job handling the issue, with 35% saying that they trust congressional Republicans to do a better job.

The ABC News/Washington Post poll was conducted April 22-25, with 1,001 adults questioned by telephone. The survey's overall sampling error is plus or minus three percentage points.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,814.94 -2.96 -0.02%
Nasdaq 4,758.25 3.36 0.07%
S&P 500 2,067.03 -2.38 -0.12%
Treasuries 2.26 -0.05 -2.16%
Data as of 12:22am ET
Company Price Change % Change
Apple Inc 117.60 -1.02 -0.86%
Bank of America Corp... 17.10 -0.08 -0.47%
Huntington Bancshare... 10.11 -0.07 -0.69%
Kinder Morgan Inc 40.75 -0.04 -0.10%
Ford Motor Co 15.68 0.01 0.06%
Data as of Nov 25

Sections

Jet fuel prices are down about 18% since August, but don't expect a break in your air fare any time soon. More

Retailers are repeating Black Friday deals from year to year, and offering the same discounts at other times. More

Sales of iPads and other tablets are slumping badly in 2014, and won't likely be a big hit during the holidays as they were last year. More

Ever since the Ebola epidemic erupted in her hometown of Foya, Liberia, Deboriah Foko has been working with Doctors Without Borders to inform others about this deadly virus. Here are journal entries from a day in her life. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.