Dodd-Frank authorized the council to designate specific nonbanks for tougher supervision, but the Trump administration has signaled support for "activities-based" designations.
The interagency council voted in favor of the bank's application to remove its designation, though the practical effect of the decision is muted by the regulatory relief law passed this spring.
The Conference of State Bank Supervisors says state and federal regulatory coordination on third-party technology service provider exams eliminates duplication
The Financial Stability Oversight Council has proposed to dedesignate Zions Bancorp. as a systemically important financial institution under the Dodd-Frank Act.
The White House announcement of Dino Falaschetti as the choice to run the Office of Financial Research comes amid signs that the administration has attempted to reduce the agency's independence.
The Treasury secretary has suggested raising an asset cutoff used by the Financial Stability Oversight Council to assess systemically significant nonbanks, removing some hedge funds and other risky firms from the council's purview.
