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D.C. – Christopher Appel, Director of Banking Policy at Better Markets,issued the following statement in response to the Basel Committee on Banking Supervision’s (Basel Committee)announcementthat it will seek public comment on the treatment of cross-border exposures in the so-called “European Banking Union” in the Basel Committee’s global systemically important bank (GSIB) framework:

In a move that Sen. Elizabeth Warren has decried as a “clear conflict of interest and corruption,” one of the Trump family’s most lucrative businesses is on its way to becoming a bank. And it’s set to be regulated by a government entity whose leader was appointed by, you guessed it, President Donald Trump.