President Donald Trump recently signed into law bipartisan legislation permitting the Financial Stability Oversight Council’s (FSOC) independent member with insurance expertise to continue serving in the position beyond his or her term, if necessary.
House Financial Services Committee Ranking Member Maxine Waters (D-Calif.) and Rep. Randy Hultgren (R-Ill.) introduced the legislation, H.R. 3110, dubbed the “FSOC Insurance Member Continuity Act.”
Read on to learn more about what the new law means for the council.