Earlier today, the Financial Services Forum and its member banks launched a new campaign, Americans Can't Afford It, highlighting the economic consequences of Basel III Endgame on consumers, small businesses, and the economy at large.

The campaign was featured in a CNBC Squawk Box segment led by Leslie Picker this morning and was highlighted in POLITICO's Morning Money:

• CNBC highlights how the rule will impact homebuyers, farmers, and small businesses. "The Financial Services Forum launching a campaign today to magnify the criticism against a proposed hike to bank's capital requirements. The bank's lobbying group named the initiative 'Another Bill Americans Can't Afford' with the goal of showing how these rules impact everything from Americans' ability to buy a home, operate a farm, and finance a small business. I'm told the campaign is a seven-figure paid media buy-on, digital TV, and out-of-home advertising." (Leslie Picker, CNBC Squawk Box, 10/23/2023)
• POLITICO noted the campaigns focus on educating consumers. "The Financial Services Forum, a group representing chief executives at eight of the biggest U.S. banks, is kicking off a seven-figure ad campaign today that will try to rally Americans against a planned hike in bank capital requirements by warning about the potential economic impact.'" (Katy O'Donnell, "POLITICO Morning Money", 10/23/2023)

Federal regulators have not properly considered how this proposal will impact Americans across the country. While the state of the U.S. economy is uncertain, and Americans continue to pay more for daily essentials, now is not the time to implement policies that will only exacerbate these issues for consumers and small businesses.