U.S. Treasury Secretary Scott Bessent is proposing to overhaul a regulatory panel that monitors the nation's financial stability, by advocating for looser regulations.
The Financial Stability Oversight Council, a U.S. body created in the wake of the 2008 global financial crisis, monitors risks to the financial system and coordinates regulators' approaches to overseeing the U.S. financial system. In a letter released by Bessent Thursday, he said “too often in the past, efforts to safeguard the financial system have resulted in burdensome and often duplicative regulations."
