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 | |
---|---|---|---|---|---|
![]() |
Rep. Eric Swalwell | 14 | ![]() |
No | |
![]() |
Rep. Mark Takano | 39 | ![]() |
No | |
![]() |
Rep. Scott Taylor | 2 | ![]() |
Yes | |
![]() |
Rep. Claudia Tenney | 24 | ![]() |
Yes | |
![]() |
Rep. Glenn Thompson | 15 | ![]() |
Yes | |
![]() |
Rep. Bennie Thompson | 2 | ![]() |
No | |
![]() |
Rep. Mike Thompson | 4 | ![]() |
Yes | |
![]() |
Rep. William M. Thornberry | 13 | ![]() |
Yes | |
![]() |
Rep. Scott Tipton | 3 | ![]() |
Yes | |
![]() |
Rep. Dina Titus | 1 | ![]() |
No | |
![]() |
Rep. Paul Tonko | 20 | ![]() |
No | |
![]() |
Rep. Norma Torres | 35 | ![]() |
No | |
![]() |
Rep. Dave Trott | 11 | ![]() |
Yes | |
![]() |
Rep. Niki Tsongas | 3 | ![]() |
No | |
![]() |
Rep. Michael R. Turner | 10 | ![]() |
Yes | |
![]() |
Rep. Fred Upton | 6 | ![]() |
Yes | |
![]() |
Rep. David Valadao | 22 | ![]() |
Yes | |
![]() |
Rep. Juan Vargas | 52 | ![]() |
Yes | |
![]() |
Rep. Marc Veasey | 33 | ![]() |
Yes | |
![]() |
Rep. Filemon Vela | 34 | ![]() |
Yes |