This misnamed bill adds a number of unnecessary procedural obstacles to the already cumbersome and time-consuming process the Financial Stability Oversight Council (FSOC) uses to designate large, non-bank financial entities for increased oversight. The 2008 financial crisis made it obvious that proper consolidated oversight of large non-banks is critical to financial stability. Non-bank financial institutions such as AIG were central contributors to the 2008 crisis and the ensuing economic collapse. The FSOC’s ability to designate non-bank financial companies for enhanced prudential supervision is a crucial line of defense against future systemic risks from non-banks. If enacted this bill has the potential to unravel the regulatory system aimed at preventing the need for future bailouts of “too-big-to-fail” financial institutions. The bill passed on April 11, 2018, and referred to the Senate Banking Committee.
Vote result: Passed
YEAs: 297
NAYs: 121
Legislator Sort descending | State | District | Party | Vote | |
---|---|---|---|---|---|
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Rep. John Katko | 24 | ![]() |
Yes | |
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Rep. Bill Keating | 9 | ![]() |
Yes | |
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Rep. Trent Kelly | 1 | ![]() |
Yes | |
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Rep. Robin Kelly | 2 | ![]() |
No | |
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Rep. Mike Kelly | 16 | ![]() |
Yes | |
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Rep. Joseph P. Kennedy III | 4 | ![]() |
Yes | |
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Rep. Ro Khanna | 17 | ![]() |
No | |
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Rep. Ruben Kihuen | 4 | ![]() |
Yes | |
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Rep. Dan Kildee | 8 | ![]() |
No | |
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Rep. Derek Kilmer | 6 | ![]() |
Yes | |
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Rep. Ron Kind | 3 | ![]() |
Yes | |
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Rep. Peter T. King | 2 | ![]() |
Yes | |
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Rep. Steve King | 4 | ![]() |
Yes | |
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Rep. Adam Kinzinger | 16 | ![]() |
Yes | |
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Rep. Steve Knight | 25 | ![]() |
Yes | |
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Rep. Raja Krishnamoorthi | 8 | ![]() |
No | |
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Rep. Ann McLane Kuster | 2 | ![]() |
Yes | |
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Rep. David Kustoff | 8 | ![]() |
Yes | |
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Rep. Raúl Labrador | 1 | ![]() |
Yes | |
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Rep. Darin M. LaHood | 16 | ![]() |
Yes |