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. Bradley Byrne | 1 | Republican | Yes | ||
Rep. G. K. Butterfield | 1 | Democrat | No | ||
Rep. Cheri Bustos | 17 | Democrat | Yes | ||
Rep. Michael C. Burgess | 26 | Republican | Yes | ||
Sen. Ted Budd | Republican | Yes | |||
Rep. Larry Bucshon | 8 | Republican | Yes | ||
Rep. Ken Buck | 4 | Republican | Yes | ||
Rep. Vern Buchanan | 16 | Republican | Yes | ||
Rep. Julia Brownley | 26 | Democrat | Yes | ||
Rep. Anthony Brown | 4 | Democrat | Yes | ||
Rep. Susan Brooks | 5 | Republican | Yes | ||
Rep. Mo Brooks | 5 | Republican | Yes | ||
Rep. Jim Bridenstine | 1 | Republican | Yes | ||
Rep. David A. Brat | 7 | Republican | Yes | ||
Rep. Kevin Brady | 8 | Republican | Yes | ||
Rep. Robert A. Brady | 1 | Democrat | No | ||
Rep. Brendan Boyle | 2 | Democrat | Yes | ||
Rep. Mike Bost | 12 | Republican | Yes | ||
Rep. Suzanne Bonamici | 1 | Democrat | No | ||
Rep. Lisa Blunt Rochester | At Large | Democrat | Yes |