Financial Regulation Scorecard true 0% 15 Checks mostly-true 0% 22 Checks Half True 0% 35 Checks mostly-false 0% 37 Checks false 0% 36 Checks Pants on Fire 0% 10 Checks For more details, see the Principles of PolitiFact All Fact-checks for Financial Regulation Donald Trump stated on January 11, 2026 in remarks to reporters: Credit card companies would be “in violation of the law” if they don’t cap interest rates at 10% by Jan. 20. January 12, 2026 Pete Buttigieg stated on February 18, 2025 in an X post: “I am not making this up: Republicans have introduced legislation … to increase your bank fees." By Caleb McCullough • February 26, 2025 Instagram posts stated on May 26, 2024 in Instagram post: Ronald Reagan’s Federal Communications Commission abolished the Fairness Doctrine and gave rise to Fox News. By Tatevik Lazaryan • June 18, 2024 Ron DeSantis stated on February 27, 2024 in an interview on CNBC: Citizens Property Insurance “is not solvent.” By Louis Jacobson, Samantha Putterman • March 14, 2024 Instagram posts stated on February 28, 2024 in an Instagram post: Video shows Kamala Harris saying Democrats would use taxpayer dollars to bribe voters. March 7, 2024 Facebook posts stated on September 13, 2023 in a Facebook video: Under Project Hamilton, “every dollar you hold in your bank account, your wallet and even your retirement” will be confiscated and “replaced with a dangerous new totally digital dollar.” By Sara Swann • September 26, 2023 Facebook posts stated on March 15, 2023 in a headline shared on Facebook: Silicon Valley Bank “donated $73M to 'BLM Movement'” March 22, 2023 Facebook posts stated on December 9, 2022 in a reel: The Federal Reserve “has suspended the availability of new currency.” By Gabrielle Settles • December 14, 2022 TikTok posts stated on August 29, 2022 in a video: Executive Order 14067 will allow the federal government to “turn on and turn off your money.” By Gabrielle Settles • September 8, 2022 Viral image stated on August 17, 2022 in a Facebook post: “Tulsi Gabbard Venmos Nancy Pelosi $600.01 forcing the IRS to audit Pelosi’s finances.” August 19, 2022 Facebook posts stated on July 15, 2022 in a Facebook post: The entire banking system in Canada is closing down. By Jill Terreri Ramos • July 28, 2022 Bloggers stated on November 14, 2021 in a blog post: “Biden’s banking nominee demands all ‘private bank accounts’ be eliminated” By Jill Terreri Ramos • November 19, 2021 Candace Owens stated on September 9, 2021 in a tweet: “The Biden administration is attempting to empower the IRS to monitor every single withdrawal, deposit, and transaction you make from your personal banking accounts, PayPal, Venmo, etc." By Samantha Putterman • October 11, 2021 Infowars stated on September 13, 2021 in an Instagram post: “Biden’s Treasury Department declares IRS will monitor” all accounts over $600. September 15, 2021 Raphael Warnock stated on October 28, 2020 in an interview: When Sen. Kelly Loeffler heard about the COVID-19 risk, she “focused on her own portfolio” and "profited from the pandemic." October 31, 2020 Facebook posts stated on April 2, 2020 in a Facebook post: Says Nancy Pelosi “made millions in coronavirus insider trading.” June 30, 2020 Lincoln Project stated on May 5, 2020 in an ad: "Trump bailed out Wall Street, but not Main Street." By Louis Jacobson • May 7, 2020 Joe Biden stated on March 15, 2020 in a debate: Because the Federal Reserve recently cut interest rates to near 0%, “the Fed will be of little consequence now. They’ve already used what leverage they have.” By Louis Jacobson • March 18, 2020 Pete Buttigieg stated on February 22, 2020 in a speech: Says Bernie Sanders would “go beyond reform and reorder the economy in ways most Democrats — let alone most Americans — don’t support." By Louis Jacobson • February 25, 2020 Elizabeth Warren stated on February 19, 2020 in the Las Vegas debate: “Mayor Bloomberg was busy blaming African Americans and Latinos for the housing crisis in 2008.” By Amy Sherman • February 20, 2020 Load More Latest Articles Lisa Cook is fighting President Donald Trump’s plan to fire her. What comes next? • August 26, 2025 Critics accuse President Donald Trump of insider trading. Experts say that’s a stretch. By Louis Jacobson • April 10, 2025 What’s behind Republicans’ claim that Joe Biden received $40,000 of ‘laundered Chinese money’? • November 14, 2023 Why are banks like First Republic and Silicon Valley failing? And how unusual is this? By Louis Jacobson • May 3, 2023 Ron DeSantis’ baseless theory that the government wants to control people’s purchases By Louis Jacobson • April 12, 2023 Was Silicon Valley Bank demise caused by Trump easing regulation, ‘woke’ efforts, or something else? By Louis Jacobson, Matthew Crowley, Maria Ramirez Uribe, Yacob Reyes • March 13, 2023 Can student loan debt be canceled by a president’s executive order? By Cassidey Kavathas • June 14, 2021 Joe Biden’s promises on the economy: A closer look By Louis Jacobson • January 22, 2021 Kamala Harris Says She ‘Took On The Big Banks’ As California Atty. General. Did She Go Far Enough? By Chris Nichols • August 25, 2020 How the 2008 and 2020 recessions will be different, and why that matters By Louis Jacobson • March 20, 2020 How the coronavirus shook the stock market, explained By Bill McCarthy • March 10, 2020 Latest promises about Financial Regulation Donald Trump Allow free access to the drug market More progress for some types of drugs, less for others | July 15, 2020 Barack Obama Go “line by line” over earmarks to make sure money being spent wisely Very different results for stimulus and Omnibus | March 3, 2009 Barack Obama Enact tax credit for consumers for plug-in hybrid cars Stimulus includes tax credit for plug-in hybrids | March 23, 2009 Barack Obama Provide tax credits for automakers to build fuel-efficient cars Tax credits and loans exceed $4 billion promise | August 6, 2012 Barack Obama Create new financial regulations Barack Obama signs financial reform law | July 21, 2010 Barack Obama Create a Social Investment Fund Network Program launched with $50 million | January 5, 2010 Barack Obama Pay for the national service plan without increasing the deficit Bill signed, but no budget offsets | January 11, 2010 Barack Obama Cap interest rates on payday loans and improve disclosure After long wait, new agency takes up role overseeing payday loans | August 3, 2012 Barack Obama Create a public “Contracts and Influence” database The database was never developed | December 28, 2016 Barack Obama Establish transparency standards for military contractors Contracting reforms are in place, but not transparency standards | July 16, 2012 Barack Obama Restore the government’s ability to manage contracts by rebuilding our contract officer corps Some progress, but much work remains | November 3, 2011 Barack Obama Create a consumer-friendly credit card rating system Consumer advocates say Obama exceeded his credit card promise | October 17, 2011 Latest promises about Financial Regulation
Donald Trump Allow free access to the drug market More progress for some types of drugs, less for others | July 15, 2020
Barack Obama Go “line by line” over earmarks to make sure money being spent wisely Very different results for stimulus and Omnibus | March 3, 2009
Barack Obama Enact tax credit for consumers for plug-in hybrid cars Stimulus includes tax credit for plug-in hybrids | March 23, 2009
Barack Obama Provide tax credits for automakers to build fuel-efficient cars Tax credits and loans exceed $4 billion promise | August 6, 2012
Barack Obama Create new financial regulations Barack Obama signs financial reform law | July 21, 2010
Barack Obama Create a Social Investment Fund Network Program launched with $50 million | January 5, 2010
Barack Obama Pay for the national service plan without increasing the deficit Bill signed, but no budget offsets | January 11, 2010
Barack Obama Cap interest rates on payday loans and improve disclosure After long wait, new agency takes up role overseeing payday loans | August 3, 2012
Barack Obama Create a public “Contracts and Influence” database The database was never developed | December 28, 2016
Barack Obama Establish transparency standards for military contractors Contracting reforms are in place, but not transparency standards | July 16, 2012
Barack Obama Restore the government’s ability to manage contracts by rebuilding our contract officer corps Some progress, but much work remains | November 3, 2011
Barack Obama Create a consumer-friendly credit card rating system Consumer advocates say Obama exceeded his credit card promise | October 17, 2011
