One goal of the Populist Party was to implement federal regulation of banks and corporations. The Populist Party, also known as the People's Party, was composed of American farmers who had undergone crop failures and other financial hardships in the late 19th century.
The Populist Party was a revolt against the Republican and Democratic parties, whom the farmers felt had not done enough to lift the them out of poverty and hardship. Additionally, corruption was widespread among farmers' business partners, such as money lenders and grain-elevator owners. A notable action by the Populist Party was forming coalitions with black farmers during a time when Jim Crow laws prevailed.