The Biden Administration’s Basel III Endgame proposal has sparked bipartisan concerns, with both Republicans and Democrats expressing worries about its potential impact on consumers, communities, small businesses, and financial institutions. Critics argue that the proposal lacks sound economic analysis and could threaten the financial security of Americans, leading to increased costs for credit, reduced mortgage lending for low-income households, and potential negative consequences for the clean energy transition. Lawmakers have called for the withdrawal of the proposal to protect access to affordable credit and to address the deficiencies highlighted during the House Financial Services Committee hearings. The proposal has been described as having a myriad of flaws and is seen as leaving the economy vulnerable.
I am concerned that the Basel III Endgame proposal will make credit more expensive for small businesses, reduce mortgage lending for low-income households, & put the U.S. at a competitive disadvantage abroad. I'll keep fighting on @FinancialCmte to support small businesses. https://t.co/vtJNMXoJ8R
The HFSC Financial Institutions and Monetary Policy Subcommittee hosted a hearing on Jan. 31 on the Basel III Endgame proposal, which highlighted the proposal's many deficiencies. Here are the 7 key takeaways. 📺👇 #StopBaselEndgame https://t.co/kUnsAGvim0
The HFSC Financial Institutions and Monetary Policy Subcommittee hosted a hearing on Jan. 31 on the Basel III Endgame proposal, which highlighted the proposal's many deficiencies. Here are the 7 key takeaways. 📺👇 #StopBasel Endgame https://t.co/9UW5IxcOHx
Today, the House Financial Services Committee's Financial Institutions & Monetary Policy Subcommittee met to discuss the Biden Administration's Basal Endgame III proposal. I introduced legislation that will withdraw the proposed rule by the Biden Administration. https://t.co/A09YfHPFBm
🤝 There’s bipartisan agreement: the lack of sound economic analysis in the Biden Administration’s Basel III Endgame proposal leaves our economy vulnerable. 👇 Read more 🔗 https://t.co/iwlC6qrVD1 https://t.co/E6gH6HaKQU
The Basel III endgame proposed rules could have unintended consequences for the clean energy transition and implementation of the Inflation Reduction Act. Hear my questioning from today’s FSC hearing. ⬇️ https://t.co/Prfn3wECfn
Today's Subcommittee hearing shows both Republicans AND Democrats have serious concerns with the impacts of the Basel III Endgame proposal on consumers, communities, small businesses, and financial institutions of all sizes. 🧵 👇
The #BaselIII proposal is a mixed bag: I urge regulators to strengthen some parts to better address the reasons why #SVB collapsed but I remain concerned that other parts may have unintended consequences. Listen to my discussion of these issues at today’s @FSCDems hearing ⬇️ https://t.co/PhelcnbQCb
Coming soon to a community near you: the Biden Administration’s Basel III Endgame proposal will threaten the financial security of Americans from all walks of life. It is critical that this disastrous proposal is withdrawn to protect access to affordable credit. https://t.co/aKmpedxy7O
The Biden Administration’s Basel III Endgame proposal is plagued by a myriad of flaws. Its is not enough to simply rework it. Biden’s banking regulators must withdraw this reckless proposal, and replace it with one based on sound, objective analysis. https://t.co/cgqSb34hyI
In case you want to hear from someone defending the Basel III Endgame bank-capital proposal , here is Jeremy Kress (former Fed atty) testimony from House Financial Services Committee hearing https://t.co/pYtnJ5CdfP https://t.co/PFBT9oEymU
In case you want to hear from someone who defending the Basel III Endgame bank-capital proposal , here is Jeremy Kress (former Fed atty) testimony from House Financial Services Committee hearing https://t.co/pYtnJ5CdfP https://t.co/FF8cV2vquB