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. Nydia M. Velázquez | 7 | ![]() |
No | |
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Rep. Peter J. Visclosky | 1 | ![]() |
No | |
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Rep. Ann Wagner | 2 | ![]() |
Yes | |
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Rep. Tim Walberg | 5 | ![]() |
Yes | |
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Rep. Greg Walden | 2 | ![]() |
Yes | |
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Rep. Mark Walker | 6 | ![]() |
Yes | |
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Rep. Jackie Walorski | 2 | ![]() |
Yes | |
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Rep. Mimi Walters | 45 | ![]() |
Yes | |
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Rep. Tim Walz | 1 | ![]() |
Not Voting | |
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Rep. Debbie Wasserman Schultz | 25 | ![]() |
No | |
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Rep. Maxine Waters | 43 | ![]() |
No | |
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Rep. Bonnie Watson Coleman | 12 | ![]() |
No | |
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Rep. Randy Weber | 14 | ![]() |
Yes | |
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Rep. Daniel Webster | 11 | ![]() |
Yes | |
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Sen. Peter Welch | ![]() |
No | ||
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Rep. Brad Wenstrup | 2 | ![]() |
Yes | |
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Rep. Bruce Westerman | 4 | ![]() |
Yes | |
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Rep. Roger Williams | 25 | ![]() |
Yes | |
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Rep. Joe Wilson | 2 | ![]() |
Yes | |
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Rep. Frederica Wilson | 24 | ![]() |
Not Voting |