Right now, at the behest of wall street banks, the Federal reserve is preventing narrow bank charters.

Narrow banks would give you, the depositor, yield and totally eliminate the interest rate risk banks take on (and thus expose depositors to).

The regulator is in the tank for the wealthy, and you want to double down on regulation?

> Right now, at the behest of wall street banks, the Federal reserve is preventing narrow bank charters

The proper route for this is legislation, not rule making. Narrow banks aren't asking to just custody deposits. They're asking for a reserve account at the Fed.

(Also, Wall Street banks have nothing to do with this. The fear is deposits fleeing e.g. regional banks, not SIFIs.)

The federal reserve is not a regulator.

> federal reserve is not a regulator

Particularly post-GFC, they are. There is an entire Supervision & Regulation tab [1].

[1] https://www.federalreserve.gov/supervisionreg.htm