FSOC on Chopping Block After Republican Victories
By John Heltman
Analysts sifting through the outcome of Donald Trump’s victory Tuesday night are singling out the Financial Stability Oversight Council as one of the most immediate casualties of the change in administrations…. But because the FSOC is headed by the Treasury secretary, an executive post directed by the White House, a Trump administration is unlikely to continue any of the council’s most controversial priorities, including the designation of nonbanks or continued regulation of those firms already designated. “FSOC is functionally over,” said Karen Shaw Petrou, managing partner at Federal Financial Analytics.