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. Jim Costa | 21 | ![]() |
Yes | |
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Rep. Ryan Costello | 6 | ![]() |
Yes | |
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Rep. Joe Courtney | 2 | ![]() |
No | |
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Sen. Kevin Cramer | ![]() |
Not Voting | ||
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Rep. Rick Crawford | 1 | ![]() |
Yes | |
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Rep. Charlie Crist | 13 | ![]() |
Yes | |
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Rep. Joseph Crowley | 14 | ![]() |
No | |
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Rep. Henry Cuellar | 28 | ![]() |
Yes | |
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Rep. John Culberson | 7 | ![]() |
Yes | |
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Rep. Elijah E. Cummings | 7 | ![]() |
No | |
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Rep. Carlos Curbelo | 26 | ![]() |
Yes | |
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Rep. John Curtis | 3 | ![]() |
Yes | |
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Rep. Warren Davidson | 8 | ![]() |
Yes | |
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Rep. Rodney Davis | 13 | ![]() |
Yes | |
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Rep. Danny K. Davis | 7 | ![]() |
No | |
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Rep. Susan A. Davis | 53 | ![]() |
Yes | |
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Rep. Peter A. DeFazio | 4 | ![]() |
No | |
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Rep. Diana DeGette | 1 | ![]() |
No | |
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Rep. John Delaney | 6 | ![]() |
Yes | |
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Rep. Rosa DeLauro | 3 | ![]() |
No |