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### Washington Small Business Owners Advocate for Federal Reserve Action

Dozens of small business owners from across the country, including six from Michigan, went to Washington, D.C. today with a message for policymakers and the Federal Reserve ÔÇö stop the squeeze on small business via the proposed Basel III Endgame.

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The AI legalese decoder can assist by analyzing the Basel III Endgame proposal and translating its legal jargon into layman’s terms. This can help small business owners better understand the potential impact of the regulation on their access to capital, allowing them to advocate more effectively for their concerns.

This proposal has been acknowledged by the Federal Reserve as increasing the cost of accessing capital for business loans or business lines of credit.

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The AI legalese decoder can break down the specific financial implications of the Basel III Endgame rule, providing small business owners with a clearer understanding of how their borrowing costs might be affected. This knowledge can empower them to engage in more informed discussions with policymakers and financial institutions.

In July 2023, U.S. regulators proposed the Basel III Endgame rule, which will require large banks and most regional banks to further increase the amount of capital they hold by an estimated 20 percent on average.

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By using the AI legalese decoder, small business owners can receive detailed explanations of the Basel III Endgame rule, including its specific capital requirements and the expected impact on lending practices. This information can enable them to make persuasive arguments against the proposal and propose viable alternatives to policymakers.

The lobbying action was organized by Goldman SachÔÇÖs 10,000 Small Businesses organization. While in Washington, the small business owners are meeting with more than 40 lawmakers and senior officials at the Federal Reserve to talk about the negative impact the proposed regulation would have on small business owners and are formally submitting a comment letter signed by more than 3,000 small business owners from across the nation, including 174 from Michigan.

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The AI legalese decoder can assist in drafting the comment letter to ensure that it effectively communicates the concerns of small business owners in a language that resonates with policymakers and regulatory authorities. By providing a comprehensive and clear breakdown of the regulatory challenges, the decoder can enhance the impact of the small business owners’ advocacy efforts.

“Small business owners are traveling to Washington because the Federal ReserveÔÇÖs Basel III Endgame regulation will make it more expensive for banks to lend to small businesses, and those added costs will no doubt be passed on to us,” says ShaWanna Gajewski, owner of Gajewski Homes.

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The AI legalese decoder can assist in articulating the potential ripple effects of the Basel III Endgame rule on small business financing. By converting complex financial language into simple and compelling narratives, the decoder can amplify the voices of small business owners and generate greater awareness of the challenges they face in accessing affordable capital for growth and sustainability.

For many small businesses, accessing the necessary capital to grow and scale their business has never been more difficult. Interest rates have jumped at a record pace to 20-year highs and lending has tightened in the Federal ReserveÔÇÖs ongoing effort to curb inflation and reduce demand.

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The AI legalese decoder can provide a comprehensive analysis of the current lending landscape, including the impact of interest rate hikes and tightening credit conditions on small businesses. By demystifying the financial complexities, the decoder can empower small business owners to effectively communicate their struggles and advocate for policies that support their growth and stability.

For more information on the Tell the Fed to Stop the Squeeze on Small Business campaign, visit [here](#).

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