The Financial Stability Oversight Council voted to move a group of non-banking financial companies forward in a process that will determine whether they are so big their failure would destabilize the economy, a Treasury Department spokesman said on Friday. During …
Three U.S. states have joined a lawsuit that challenges the constitutionality of the 2010 Dodd-Frank law that overhauled U.S. financial oversight and created the Consumer Financial Protection Bureau. The attorneys general of Michigan, Oklahoma and South Carolina are challenging a …
The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found. The Government Accountability Office said the Financial Stability Oversight Council, a group made up …
The U.S. financial risk council approved a final rule on Tuesday laying out how it will decide which financial companies outside the banking industry will face new scrutiny by the Federal Reserve in hopes of preventing a repeat of the …
A key ratings agency says that recently proposed guidelines for identifying which insurers would qualify as systemic risks represent an important first step in improved federal regulation of financial institutions. The proposed guidelines from the Financial Stability Oversight Council (FSOC), …
Only two life insurers — MetLife Inc.. and Prudential Financial Inc. — meet the newly developed requirements to be considered “systemic” and regulated as such, KBW analysts said Wednesday. The Financial Stability Oversight Council Tuesday proposed a three-stage test to …
U.S. regulators pondering which non-bank financial firms are large enough to warrant additional oversight have proposed a $50 billion asset threshold in conjunction with levels of debt and derivatives. The Financial Stability Oversight Council on Tuesday agreed to issue for …
U.S. regulators Tuesday are set to give nervous insurance companies, mutual funds and other big players in financial markets a better idea of whether they will be tapped for the same type of additional government scrutiny facing large U.S. banks. …
The Senate has confirmed former Kentucky insurance regulator S. Roy Woodall for the one voting position on the federal Financial Stability Oversight Council (FSOC) reserved for someone with insurance expertise. The term is for six years. The FSOC is in …
The Senate Banking Committee is today considering the nomination of a key insurance member to the new federal board that deals with the financial system and matters of systemic risk. President Barack Obama has nominated a former Kentucky insurance commissioner, …
