WASHINGTON, D.C.— Phillip Basil, Director of Economic Growth and Financial Stability at Better Markets, issued the following statement in connection with Better Markets’ new fact sheet “Key Questions Congress Should Ask the Banking Regulators”:

“Since January, the agency heads of banking supervision and regulation have been rapidly implementing a sweeping agenda that satisfies the wish list of the largest banks at the expense of community banks and financial stability. At tomorrow’s hearing, lawmakers must look at the deregulatory actions in total—not in the piecemeal way in which the agenda is being implemented—and hold the regulatory heads to account for the blatant prioritization of Wall Street over Main Street.

“For years the big bank lobby has been pushing publicly for low capital requirements, weak supervision, and a rubber-stamp acquisition process. Now they are getting everything they want in an almost word-for-word implementation of the industry’s asks. The American people at the very least deserve to know the full truth behind these actions, which is detailed in our new fact sheet.”

The fact sheet is available online here.

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings