Remarks from Secretary of the Treasury Scott Bessent at Event with Arizona Bankers in Phoenix

As prepared for delivery. Good afternoon. Thank you all for joining us today. The spy novelist John le Carré famously wrote that a desk is a dangerous place from which to watch the world. So, I try to get out from behind mine as often as I can. And whenever I travel, one of my priorities is to meet with local bankers who put the savings of a community to work for those who are building its future. Of course, community banks devote a far greater share of their assets to small businesses than the largest institutions. Despite holding only 15 percent of industry assets and deposits, you account for 40 percent of small-business loans. A financial system that relies so heavily on local and community banks means Washington should have taken greater care not to weaken them.