Treasury Secretary Scott Bessent is testifying before Congress, emphasizing a new approach to financial stability. He stated that the Financial Stability Oversight Council (FSOC) is focusing on economic growth and security by reducing existing regulations. Bessent highlighted the need for regulations to address risks, enhance transparency, and ease burdens on community banks.

Read more at Dow Jones & Company: Bessent Doubles Down on FSOC’S New Deregulatory, Pro-growth Agenda