Regulators should move promptly following the repeal of Trump-era guidance that hamstrung the Financial Stability Oversight Council (FSOC) to research, identify and designate potential new systemic risks, according to Americans for Financial Reform Education Fund.
On May 13, 2019, Americans for Financial Reform Education Fund sent a letter to the Financial Stability Oversight Council warning about the dangers of weakening oversight of nonbank financial firms even if such a firm could impose a threat to financial stability.
AFR sent a letter to Congress opposing a bill that would massively undermine the oversight of non-bank financial companies that are crucial to financial stability.