FSOC Takes Heat Over Opaque 'Too Big To Fail' Process

Law360, New York (March 14, 2013, 3:40 PM EDT) -- House Republicans at a Thursday hearing demanded more transparency from the Financial Stability Oversight Council, the group in charge of designating 'too big to fail' financial companies, while also pressuring the body to step up its coordination of Dodd-Frank Act rulemaking across agencies to prevent conflicting standards.

Lawmakers repeatedly grilled Amias Gerety, deputy assistant security at the Financial Stability Oversight Council, on progress that the council has made on those points since the U.S. Government Accountability Office put out a September report making similar criticisms....
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