The Southwest Public Policy Institute (SPPI), a leading advocate for policy solutions that enhance freedom and prosperity in the Southwest, today announced its support for the Competitive Enterprise Institute-led coalition opposing the RECOUP Act (S. 2190). By signing the coalition letter, SPPI aligns itself with other prominent policy groups and experts in urging Congress to reject legislation that could significantly expand the powers of financial regulatory agencies and potentially undermine constitutional liberties and government accountability.

The RECOUP Act proposes to empower financial regulatory bodies with the authority to unilaterally remove the executives of any U.S. bank under their supervision, based on broad criteria related to financial, risk, or supervisory reporting systems. This unprecedented expansion of regulatory power raises serious concerns among the coalition members, including the potential for its misuse against industries and sectors based on policy disagreements, notably those related to environmental reporting standards.

Patrick M. Brenner, President of the Southwest Public Policy Institute, stated, “Our decision to join this coalition and sign the letter opposing the RECOUP Act is rooted in our commitment to protecting individual freedoms and promoting a fair, accountable regulatory environment. The Act’s broad and ambiguous language opens the door to subjective enforcement and regulatory overreach, threatening the principles of due process and the rule of law.”

The coalition letter highlights several instances of alleged government overreach and abuse of power, emphasizing the need for a cautious approach to expanding regulatory authority. The signatories express concern that the RECOUP Act could set a dangerous precedent, enabling further encroachments on private business and individual liberties under the guise of regulatory compliance.

“We urge Congress to carefully consider the implications of the RECOUP Act and to engage in open, transparent debate on its merits and potential consequences,” added Brenner. “Legislation with such far-reaching impact on the financial sector and the broader economy deserves thorough scrutiny to ensure it aligns with our nation’s values of liberty and justice for all.”

In standing against the RECOUP Act, the Southwest Public Policy Institute joins a distinguished group of policy leaders and organizations, including John Berlau of Competitive Enterprise Institute, Grover Norquist of Americans for Tax Reform, James L. Martin of the 60 Plus Association, and Adam Brandon of FreedomWorks, among others. These signatories represent a broad spectrum of perspectives and expertise, united in their concern over the potential for regulatory overreach and its implications for economic freedom and individual rights.

The Southwest Public Policy Institute remains committed to working with policymakers, industry leaders, and the public to foster a regulatory environment that supports innovation, economic growth, and the protection of fundamental rights.

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