Complex regulations are pressuring small US banks to merge with big ones. A publicly owned bank, in North Dakota, helps the local banks there to survive.

The idea that it is easier to enforce regulations on a few large banks than on small ones is backwards. On the contrary, very big banks can cheat with impunity, as Wells Fargo has shown. To make banks obey the law, we need to get big banks to split up.

My progressive business tax proposal could help do that.