[kcatskcolbdi]

The Federal Reserve is absolutely tasked with regulating the banks[1].

Congress should not be in the business of preventing banks from imploding in on themselves via regulation. Congressional regulations should insulate consumers from predatory financial institution practices. FDIC insurance exists to protect consumers in the event their banks behave irrationally. There should be no backstop for the banks themselves. Even if they wanted to Congressional regulations couldn't keep pace with the speed at which financial instruments of institutional suicide are forged.

1 https://www.federalreserve.gov/supervisionreg/reglisting.htm