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. Mario Diaz-Balart | 26 | Republican | Yes | ||
Rep. Ted Deutch | 22 | Democrat | No | ||
Rep. Scott DesJarlais | 4 | Republican | Yes | ||
Rep. Mark DeSaulnier | 10 | Democrat | No | ||
Rep. Ron DeSantis | 6 | Republican | Yes | ||
Rep. Charlie Dent | 15 | Republican | Yes | ||
Rep. Jeffrey Denham | 10 | Republican | Yes | ||
Rep. Val Demings | 10 | Democrat | No | ||
Rep. Suzan K. DelBene | 1 | Democrat | Yes | ||
Rep. Rosa DeLauro | 3 | Democrat | No | ||
Rep. John Delaney | 6 | Democrat | Yes | ||
Rep. Diana DeGette | 1 | Democrat | No | ||
Rep. Peter A. DeFazio | 4 | Democrat | No | ||
Rep. Rodney Davis | 13 | Republican | Yes | ||
Rep. Danny K. Davis | 7 | Democrat | No | ||
Rep. Susan A. Davis | 53 | Democrat | Yes | ||
Rep. Warren Davidson | 8 | Republican | Yes | ||
Rep. John Curtis | 3 | Republican | Yes | ||
Rep. Carlos Curbelo | 26 | Republican | Yes | ||
Rep. Elijah E. Cummings | 7 | Democrat | No |