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Hensarling amplifies call to halt SIFI designations
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Financial Stability, Legislation
Tuesday, May 27, 2014
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Industry stakeholders joined the leader of the House Financial Services Committee in calling on the Financial Stability Oversight Council to refrain from designating any more institutions as systemically important until Congress can review the potential impact of such determinations. During a hearing examining the FSOC’s designation process, Jeb Hensarling, R-Texas, the chairman of the committee, said designation could enshrine too-big-to-fail and harm certain types of firms and their customers. However, others hailed the designation process as an important cornerstone of financial reform.
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