PREVIEW

Bessent Pushes ‘Fundamental Reset’ of U.S. Banking Rules. Treasury Secretary Scott Bessent is moving to dramatically reshape how America’s banks are regulated, calling for what he describes as a “fundamental reset” of rules introduced after the 2008 financial crisis. Instead of leaving oversight to independent regulators, Bessent is taking a more hands-on role — urging agencies to loosen restrictions on banks, cut compliance costs, and allow wider use of digital assets and artificial intelligence - According to Politico. Supporters inside the administration say the goal is to boost lending, economic growth, and innovation, arguing that post-crisis regulations have gone too far and slowed the financial system. Bessent claims deregulation has already unlocked trillions of dollars in lending capacity. Critics, including Senator Elizabeth Warren, warn the strategy weakens safeguards and prioritizes Wall Street over financial stability, raising fears of another crisis. With regulators now closely aligned with the White House, the debate over growth versus risk is set to intensify as the overhaul accelerates.
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