House seeks to block FSOC actions
June 17, 2014 by Arthur D. Postal
The House Financial Services Committee is moving to effectively shut down the operations of the Federal Stability Oversight Council (FSOC) for at least six months. The panel has scheduled a vote Thursday on H.R. 4387, the FSOC Transparency and Accountability Act.
It would bar the FSOC from designating any financial institution as systemically significant for six months. It would also require the FSOC to allow members of the House Financial Services Committee and the Senate Banking Committee to attend all meetings, whether opened or closed.
Originally Posted at LifeHealthPro on June 17, 2014 by Arthur D. Postal.
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