Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill on June 11, 2025. Madalina Vasiliu/The Epoch Times
Treasury Secretary Scott Bessent on Monday called for a “fundamental reset” of financial regulations to ensure they are aligned with the nation’s domestic and international priorities.
Speaking at the Federal Reserve Capital Conference, Bessent said there is a need for “deeper reforms” in bank regulation, noting that the system has been marked by “regulation by reflex,” where bank regulators tend to introduce new rules after issues have already occurred.
