Scott Statement on Revised Basel III Endgame Proposal

Scott Statement on Revised Basel III Endgame Proposal

Washington, D.C. - Senate Banking Committee Chairman Tim Scott (R-S.C.) issued the following statement after regulators released a revised Basel III capital proposal:

"I have long said that overly complicated capital rules can slow economic growth without making our financial system safer. This proposal is a step in the right direction. By unlocking capital in a responsible way, President Trump is helping to grow the American economy and expand access to credit. The Biden administration's plan would have made it harder to get a mortgage, harder to start a business, and more expensive to make ends meet. That is the wrong direction when families are already feeling squeezed. There is still more work to do. We need rules that keep our financial system strong while making sure banks can lend, and our economy can grow," said Chairman Scott.

• Print
• Email
• Tweet