Dodd-Frank poll finds Wall St.’s ‘bad practices’ have not changed

On the fourth anniversary of the Dodd-Frank financial reform law, a new poll finds that most people believe “Wall Street’s bad practices have not changed enough” following the collapse of the financial markets in 2008 and that “more needs to be done.”

According to the poll from left-leaning groups Americans for Financial Reform and the Center for Responsible Lending released Monday, 78 percent of voters would support even stronger financial regulations to rein in Wall Street.

“Voters agree that getting tougher on Wall Street will help prevent future crises, rejecting the counter-argument that regulation will damage the economy,” the groups noted in a press release.

The poll found that three out of five voters believe Wall Street and the financial industry is still “too powerful” and continue to engage in “reckless practices” that pose a danger to the economy.

Only 21 percent of voters believe stronger regulations would hurt the economy, according to the poll.

Furthermore, about 80 percent of voters say they are concerned about the political influence Wall Street maintains in Washington — with more than half saying they would be less likely to vote for a politician who has taken donations from big banks.

This follows a similar poll released last week from Better Markets, another left-leaning group, which found 60 percent of voters favor stronger regulations on banks and other financial institutions.