Hears Testimony on FSOC's "Inconsistent and Arbitrary" SIFI Designation Process
The House Oversight and Investigations Subcommittee held a hearing on Tuesday, March 28, 2017 to examine the process used by the Financial Stability Oversight Council (FSOC) to designate systemically important financial institutions (SIFIs). The subcommittee heard testimony from a panel of witnesses about the designation process and about the House Financial Services Committee’s February 28, 2017 report criticizing the FSOC and what it termed its “inconsistent and arbitrary” SIFI designation process.