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 | |
---|---|---|---|---|---|
Rep. Liz Cheney | At Large | Republican | Yes | ||
Rep. Judy Chu | 28 | Democrat | No | ||
Rep. David Cicilline | 1 | Democrat | No | ||
Rep. Katherine Clark | 5 | Democrat | Yes | ||
Rep. Yvette D. Clarke | 9 | Democrat | No | ||
Rep. William Lacy Clay | 1 | Democrat | No | ||
Rep. Emanuel Cleaver II | 5 | Democrat | No | ||
Rep. James E. Clyburn | 6 | Democrat | No | ||
Rep. Mike Coffman | 6 | Republican | Yes | ||
Rep. Steve Cohen | 9 | Democrat | No | ||
Rep. Tom Cole | 4 | Republican | Yes | ||
Rep. Chris Collins | 27 | Republican | Yes | ||
Rep. Doug Collins | 9 | Republican | Yes | ||
Rep. James Comer | 1 | Republican | Yes | ||
Rep. Barbara Comstock | 10 | Republican | Yes | ||
Rep. K. Michael Conaway | 11 | Republican | Yes | ||
Rep. Gerald E. Connolly | 11 | Democrat | No | ||
Rep. Paul Cook | 8 | Republican | Yes | ||
Rep. Jim Cooper | 5 | Democrat | Yes | ||
Rep. J. Luis Correa | 46 | Democrat | Yes |