Readers of CU Times were polled this week on whether the Republican or Democrat presidential candidate team would be better for credit unions. With just shy of 200 readers responding so far, results of the unofficial informal poll have the Trump/Pence ticket edging out Clinton/Kane by 53% to 44%. Candidate Positions on Banking Issues:
- Hillary Clinton -
- Supports Consumer Financial Protection Bureau action to end unfair practices on Wall Street
- Calls for commonsense reforms to the Federal Reserve and unwavering oversight of the financial industry
- Would permit large banks to fail if there were another financial crisis and would impose a risk fee on big banks that engage in risky behavior
- Donald Trump -
- Would take power away from the Federal Reserve and allow Congress to audit its decision making
- Has suggested buying back government debt at a discount if interest rates go up
- Would repeal the Dodd-Frank Act, enacted in 2010 to promote U.S. financial stability by improving accountability and increasing transparency in the financial system, protecting consumers, ending "too big to fail," and eliminating bailouts
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