Bessent Pushes for Smarter Bank Rules | US News

Treasury Secretary Scott Bessent fired a blistering shot at current banking regulations at the G20, arguing they’re crushing small banks and stifling Main Street. He warned that post-2008 rules have shuttered half the nation’s community lenders and turned them into “too small to succeed” institutions — a far cry from Dodd-Frank’s original goal of preventing “too big to fail.” Bessent pushed for deregulation to unlock billions for small businesses, citing a surge in new bank charter applications — already outpacing the entire prior administration — driven by fintech and digital asset firms eager to operate like traditional banks. The Treasury is also prioritizing private-sector input before finalizing policies, aiming to avoid punishing businesses after the fact and instead fuel economic growth. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/fe3b58ea70f6e68a