A new piece in Fortune today highlights a recent analysis conducted by Dr. Randall S. Kroszner, a former Federal Reserve governor, which found that the Basel III Endgame proposal may have unintended consequences for U.S. consumers and businesses.

"'They're getting the right input from the commentators,' he said. 'They had an enormous number of commentators, almost all of which had reasonable questions or concerns. And those are exactly the kind of potential unintended consequences that you want to look at before moving forward.'"

Dr. Kroszner also shared with Fortune his main concern about the lack of a cost-benefit analysis conducted by regulators: 

"The ecosystem evolves, risks evolve, there are always going to be changes and reforms that will be necessary. But my concern, as I outline in the paper, is that I just don't think that they've done a very good job of tailoring the proposals to particular risk concerns they have."

Dr. Kroszner is just the latest in a series of current and former policymakers speaking out against the rule. Their concerns make it clear: Washington needs to scrap Basel III Endgame and start over.