Regulations are important in an industry where money rules the day and corruption is too easy. Banks need regulations just as much as children need rules set by their parents. The rules don't need to be complicated, just effective and reasonable to implement. The American people will feel better knowing that everyone has to play by the rules.
A bank is a business that is successful only because people know they can fully trust them with their money and valuables. If banks started to be less regulated, this trust would disappear, making their usefulness and their purpose obsolete. A person needs to know they can trust their bank and for this they need regulation.
Banks are motivated to make as much money as possible for shareholders. That is not a bad objective. But it must be balanced with government regulations to protect the public from predatory lending and outrageous fees. Banks provide essential services. Without regulations, they will take advantage of people who depend on those services.
No, banks should not be immune to regulations. They are privy to huge sums of money that belong to families and individuals across America and the world. Their actions could potentially make or break all of these people financially. Because so much is at stake, they need to be regulated carefully.