Exclusive: Bessent calls for less regulation to help small banks

Treasury Secretary Scott Bessent urged for reduced financial regulation at the G20 finance ministers meeting, claiming that stringent post-crisis rules are stifling small banks. This push is significant given the influential role of private sector leaders like JPMorgan Chase’s Jamie Dimon and Goldman Sachs’ David Solomon in the U.S.-led G20. Bessent’s arguments suggest a potential shift in how financial oversight is viewed, which could reshape the regulatory landscape for smaller financial institutions and impact their ability to operate efficiently.