S 3578 · 119th CongressIn Committeecongress.gov ↗
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How it worksIntroduced
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What this bill does
AI plain-language summaryThis bill says that before the Financial Stability Oversight Council can place a large non-bank financial company under extra supervision by the Federal Reserve, it must first consider whether other, less drastic steps could address the risk that company might pose to the country's financial system. Essentially, the council would have to show that alternative actions wouldn't be enough to reduce the threat before it can put a company under stricter oversight.
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