Reported about 18 hours ago
U.S. Treasury Secretary Scott Bessent has called for significant reforms in the outdated financial regulatory system, urging regulators to eliminate the controversial dual capital requirement structure for banks. During a Federal Reserve regulatory conference, he emphasized that current excessive capital requirements hinder lending, growth, and market stability. Bessent criticized the 'reactionary approach' of past regulations and proposed that reforms should prioritize innovation and financial resilience, suggesting a tailored approach to capital requirements that could benefit both large and community banks.
Source: YAHOO