Posted inPolicy Topics

2023 was a bad year for banking and 2024 could be worse

After the Great Reces­sion, law­mak­ers promised that the reforms they insti­tut­ed secured America’s bank­ing sec­tor. How­ev­er, as long as the Unit­ed States sticks to a pre­dom­i­nate­ly pri­vate bank­ing sec­tor — one that can­not oper­ate counter-cycli­cal­ly nor ded­i­cate financ­ing to social needs — that promise of long-term secu­ri­ty is elusive.