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. John Culberson | 7 | Republican | Yes | ||
Rep. Henry Cuellar | 28 | Democrat | Yes | ||
Rep. Joseph Crowley | 14 | Democrat | No | ||
Rep. Charlie Crist | 13 | Democrat | Yes | ||
Rep. Rick Crawford | 1 | Republican | Yes | ||
Sen. Kevin Cramer | Republican | Not Voting | |||
Rep. Joe Courtney | 2 | Democrat | No | ||
Rep. Ryan Costello | 6 | Republican | Yes | ||
Rep. Jim Costa | 21 | Democrat | Yes | ||
Rep. J. Luis Correa | 46 | Democrat | Yes | ||
Rep. Jim Cooper | 5 | Democrat | Yes | ||
Rep. Paul Cook | 8 | Republican | Yes | ||
Rep. Gerald E. Connolly | 11 | Democrat | No | ||
Rep. K. Michael Conaway | 11 | Republican | Yes | ||
Rep. Barbara Comstock | 10 | Republican | Yes | ||
Rep. James Comer | 1 | Republican | Yes | ||
Rep. Chris Collins | 27 | Republican | Yes | ||
Rep. Doug Collins | 9 | Republican | Yes | ||
Rep. Tom Cole | 4 | Republican | Yes | ||
Rep. Steve Cohen | 9 | Democrat | No |