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 ascending | State | District | Party | Vote | |
---|---|---|---|---|---|
Rep. Paul Gosar | 9 | Republican | Yes | ||
Rep. Robert W. Goodlatte | 6 | Republican | Yes | ||
Rep. Vicente Gonzalez | 34 | Democrat | Yes | ||
Rep. Jimmy Gomez | 34 | Democrat | No | ||
Rep. Louie Gohmert | 1 | Republican | Yes | ||
Rep. Bob Gibbs | 7 | Republican | Yes | ||
Rep. Greg Gianforte | At Large | Republican | Yes | ||
Rep. Thomas Garrett | 5 | Republican | Yes | ||
Rep. John Garamendi | 8 | Democrat | No | ||
Rep. Ruben Gallego | 3 | Democrat | No | ||
Rep. Mike Gallagher | 8 | Republican | Yes | ||
Rep. Matt Gaetz | 1 | Republican | Yes | ||
Rep. Tulsi Gabbard | 2 | Democrat | No | ||
Rep. Marcia L. Fudge | 11 | Democrat | No | ||
Rep. Rodney Frelinghuysen | 11 | Republican | Yes | ||
Rep. Lois Frankel | 22 | Democrat | Not Voting | ||
Rep. Virginia Foxx | 5 | Republican | Yes | ||
Rep. Bill Foster | 11 | Democrat | Yes | ||
Rep. Jeff Fortenberry | 1 | Republican | Yes | ||
Rep. Bill Flores | 17 | Republican | Yes |