Chairman Jeb Hensarling’s (R-Texas) Financial Services Committee has scheduled its markup of the Financial CHOICE Act of 2017, the House’s major financial regulatory reform legislation, for Tuesday morning. The truth, though, is that Dodd-Frank was passed before the Financial Crisis Inquiry Commission had even finished its report. It defies logic that Dodd-Frank got everything right, and a very good case exists that much of Dodd-Frank was the wrong approach. The Financial Stability Oversight Council (FSOC). The FSOC is a council of regulatory agencies with, among other things, an ill-defined mandate to stamp out risks to U.S. financial stability.

Source: Forbes May 01, 2017 11:03 UTC