New Treasury Secretary Scott Bessent Drives Deregulation, Trade, and Consumer Protection Agenda

Scott Bessent is quickly reshaping the agenda at the United States Department of the Treasury, and the past few days have highlighted just how aggressively he is moving as Secretary of the Treasury.

According to the official Treasury press releases, Scott Bessent was recently sworn in as the seventy ninth Secretary of the Treasury, and he is already putting his stamp on financial regulation, national security, and consumer protection. One of his most talked about moves is a push to loosen what he views as excessive financial regulation in order to unlock more credit for businesses and households. In a recent appearance covered by Fox Business, Bessent described a major deregulatory overhaul aimed at freeing up what he said could be trillions of dollars in new lending capacity across the economy. He argued that capital rules and compliance burdens imposed after the global financial crisis have gone too far, and that a more streamlined framework could support faster growth without sacrificing core safeguards.

In another Fox Business interview, Bessent reacted sharply to a recent Supreme Court decision on tariffs. He warned that the ruling, which limits some aspects of executive branch authority over trade restrictions, could weaken the United States bargaining power and create vulnerabilities in a period of intense global competition. Bessent framed tariffs as a critical national security tool as well as an economic one, and suggested the administration and Congress may need to respond with new legislation to preserve flexibility in dealing with strategic rivals.

On the home front, the Treasury press office reports that under Bessents direction, the department has issued its annual cybersecurity and holiday scam advisory, warning listeners about sophisticated frauds that target online shoppers, digital wallets, and peer to peer payment apps. Bessent has emphasized that expanded credit and lighter regulation must be matched with robust protections against cybercrime and financial fraud, especially during the peak shopping season.

Treasury also announced final rules implementing the Tribal General Welfare Exclusion Act and clarifying the treatment of entities wholly owned by Indian tribal governments. Bessent has highlighted this as part of a broader effort to provide more certainty and fairness for tribal nations in the tax system, reducing red tape around benefits and community programs while respecting tribal sovereignty.

Together, these moves paint a picture of a Secretary focused on faster growth, strong national tools on trade, and targeted consumer and tribal protections, all while signaling that the era of ever tighter financial regulation may be reversing.

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