Treasury Secretary Scott Bessent argued for lighter financial regulation at Monday's G20 finance ministers gathering in Asheville, North Carolina, saying post-financial-crisis rules had squeezed small and community banks. He highlighted a recent easing of capital requirements (minimum funds banks must hold), which allows qualifying institutions to hold less capital and, in his view, could free tens of billions of dollars for small-business investment and family loans. Bessent said post-crisis regulation contributed to the disappearance of half of the nation's small and community banks, while failing to prevent three of the largest bank failures in U.S. history in 2023, including Silicon Valley Bank and other regional banks. The Trump administration is also using the U.S. G20 presidency to bring business leaders into policymaking discussions earlier, alongside finance ministers and central bankers. Participants included JPMorgan Chase CEO Jamie Dimon, Goldman Sachs chief David Solomon and executives from Citibank, 3M, Eli Lilly, Truist, Circle and Deere. Bessent said financial deregulation forms part of the administration's strategy to boost economic growth and pointed to rising applications for de novo charters (new bank licenses) as evidence of increased confidence. Much of that activity has come from fintech and digital asset firms, including Coinbase and Ripple, seeking to operate more like traditional financial institutions while relying less on partner banks.