Guiding Principles:
- Financial capital for individuals and businesses should be accessible, available, and affordable.
- Reckless regulatory overreach on the most highly regulated industry in the country should be challenged.
- Banks should serve the capital needs of American families and entrepreneurs, not a backdoor vehicle for an ideological agenda.
Anyone who has bought a home, taken out a student loan or opened a small business or a farm knows the importance of our system of financial services. The convenience of modern technology, the speed and availability of funds, the access to credit, the anti-fraud measures that protect customers’ hard-earned resources from falling into the wrong hands: this suite of offerings is a direct result of investment and hard work of those in our banking industry.
Yet many of these features that have become staples of modern life hang in the balance, jeopardized by unwise regulatory efforts from lawmakers seeking to meddle in the business model, including legislation to create credit card routing mandates would harm consumers and weaken cybersecurity protections. A thriving economy is not possible without a strong system of financial services, and we will stand up for sensible reforms that protect consumer safety and confidence without hindering future advancements and innovation.