Bessent Says Treasury to Take on Greater Role in Bank Regulation

Treasury Secretary Scott Bessent says his department intends to play a greater role in banking regulation to ensure lending policies better match the risk of financial firms.

“Bank regulation has not taken effects on economic growth into account. That in turn has meant less lending, slower wage growth, more inflation, and fewer opportunities for American families,” Bessent said at an American Bankers Association event on Wednesday in Washington, DC.

Treasury Secretary Scott Bessent speaks during an Economic Club of New York event in New York

Photographer: Victor J. Blue/Bloomberg

Wall Street banks and smaller community and regional lenders have argued that some of Washington’s actions have hurt the industry. Bessent said on Wednesday this spells bad news for the ...