Sen. Thom Tillis (R-N.C.) is urging key bank regulators to finish the capital and regulatory requirements introduced in Basel III.
In a letter sent this afternoon, Tillis said the Trump administration must finally implement capital reforms first introduced in the years immediately after the 2008 financial crisis. The North Carolina Republican said uncertainty following failed attempts under the Biden years to implement these rules had sidelined bank funds in the interim.
“Failure to finalize Basel III Endgame risks a return to this trend, where politically motivated efforts that seek to layer on excessive capital standards come at the cost of investment in the U.S. economy,” Tillis wrote.
