{"database": "press", "table": "releases", "rows": [["https://www.britt.senate.gov/news/press-releases/u-s-senators-katie-britt-tim-scott-mike-rounds-colleagues-urge-federal-reserve-to-issue-revised-basel-iii-endgame-rulemaking/", "U.S. Senators Katie Britt, Tim Scott, Mike Rounds, Colleagues Urge Federal Reserve to Issue Revised Basel III Endgame Rulemaking", "2025-11-07", "2025", "2025-11", "Republican", "Senate", "AL", "Katie Boyd Britt", "B001319", "www.britt.senate.gov", "britt", "https://www.britt.senate.gov/media/press-releases/", "scraper", "WASHINGTON, D.C. \u2014 U.S. Senator Katie Britt (R-Ala.) joined Senate Banking Committee Chairman Tim Scott (R-S.C.), Senator Mike Rounds (R-S.D.), and nine of their colleagues in sending a letter to Jerome Powell, Chairman of the Federal Reserve Board of Governors, and Michelle Bowman, Vice Chair for Supervision, urging the Board to issue a revised final Basel III Endgame rulemaking.\n\n\u201cIn assessing the final rule, we urge the Board to view capital requirements holistically,\u201d wrote the senators. \u201cAs part of this effort, the Board should endeavor to make sure that any proposal uses the baseline that existed before the post-pandemic capital ramp-up, not relative to today\u2019s elevated capital levels.\u201d\n\n\u201cSince 2020, aggregate common equity tier 1 ratios for large U.S. banks have increased by more than 20 percent. This rise was driven in part by the growth in the Board\u2019s balance sheet and the economy, not increased risk. Using current capital levels as the reference point would institutionalize excessive requirements, leading to higher costs and less access to capital for U.S. consumers and small businesses,\u201d continued the senators.\n\nSenators Mike Crapo (R-Idaho), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Pete Ricketts (R-Neb.), Kevin Cramer (R-N.Dak.), Bernie Moreno (R-Ohio), and Dave McCormick (R-Pa.) also joined the letter. You can read the full letter here.\n\nSenator Britt has been active in voicing concerns over the originally proposed Basel III Endgame rule under the Biden Administration and its potentially devastating impact on our Main Streets. In a previous hearing, she highlighted the lack of economic analysis from the then-financial regulators to understand how the proposed requirements would impact the availability of mortgages, small business loans and retail credit to consumers. She also previously questioned Fed Chair Powell, pointing out that that the financial regulators had not considered the combined impacts of other concurrent proposals, while noting, the proposal would have had \u201ca detrimental effect to our agriculture community and increase other costs providing food and fiber to our nation.\u201d\n\nSince 2023, Senator Britt has emphasized that the originally proposed Basel III requirements could severely weaken the financial sector and put American financial institutions, community banks and small businesses at a disadvantage. The Senators\u2019 letter expresses support for the Board\u2019s work to finalize a new, revised rulemaking that \u201cstrengthens the resiliency of the U.S. financial system while preserving the efficiency and competitiveness of U.S. capital markets\u201d and highlights necessary considerations for the reproposed rule.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-06T19:52:45Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.britt.senate.gov/news/press-releases/u-s-senators-katie-britt-tim-scott-mike-rounds-colleagues-urge-federal-reserve-to-issue-revised-basel-iii-endgame-rulemaking/"], "units": {}, "query_ms": 0.9403531439602375, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}