Press Release: New TV ad raises awareness of negative economic consequences of Basel III Endgame for Americans

As part of the "Another Bill Americans Can't Afford" campaign, the Financial Services Forum is taking to TV to educate consumers on the costs of higher capital requirements

WASHINGTON, D.C.—Today, the Financial Services Forum (FSF) launched national television ads to inform Americans of the negative impacts of Washington's proposed capital regulation plan as part of its "Another Bill Americans Can't Afford" educational campaign. The initiative will raise awareness about the negative consequences this proposal, known as Basel III Endgame, will have on American consumers, small businesses, and the economy at large. 

“This is a major proposal that will have a nationwide impact on the ability of consumers and businesses to borrow and thrive," stated Kevin Fromer, CEO of the Financial Services Forum. "It is vitally important for Americans to understand what challenges they and the broader economy would face if this capital proposal is not reconsidered.”    

Regulators have been unable to provide reasonable justification for the nearly 20% increase in capital requirements in this proposal. Large U.S. banks have proven their strength and security time and time again. Since 2007, the largest U.S. banks have more than tripled their capital.

Stress tests administered by the Federal Reserve and real-life stress events, including the pandemic and the 2023 banking turmoil, have shown the largest U.S. banks can continue to support the economy even in the face of significant economic and financial shocks.

Ultimately, increased capital requirements are unnecessary and will increase the price or reduce access to credit and other essential bank services for consumers and businesses. 

The TV ads are a part of a broader campaign to educate relevant stakeholders on the negative consequences of the capital proposal. The campaign will also amplify the reports and comments of third-party groups that have spoken out against the proposed regulation.

To view the advertisement click here.