Patrick McHenryChairman

Washington, November 17, 2017 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on Friday about the U.S. Treasury Department’s review of the Financial Stability Oversight Council’s designation processes.

“I commend Secretary Mnuchin and Treasury Department staff on their thoughtful report to President Trump regarding the Financial Stability Oversight Council’s designations. The report’s recommendations will improve a broken process undertaken by the prior administration that was short on due process and long on hubris. Much work remains for Congress to dismantle the Dodd-Frank Act – as the Administration pledged to do – and its misbegotten treatment of certain financial companies as too big to fail, supported by a taxpayer bailout fund.”