Sen. Crapo asks GAO to look into SIFI designation process

07/16/2013 | AmericanBanker.com (free registration)

Sen. Mike Crapo, R-Idaho, sent a letter Monday to the Government Accountability Office asking it to investigate the process by which the Financial Stability Oversight Council determines which financial institutions should be labeled systemically important. Crapo, the top Republican on the Senate banking committee, questions the transparency and logic of the process, a spokeswoman said.

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