7/17/2013

Federal Housing Finance Agency Acting Director Edward DeMarco was one of two votes against the Financial Stability Oversight Council's designation of an unidentified company, which people familiar with the matter say was Prudential Financial, as a systemically important financial institution, according to minutes of the June meeting that the Treasury Department released. Prudential is appealing the designation, which would result in a stricter oversight regimen. The FSOC also labeled American International Group and General Electric's finance arm as SIFIs, and neither company plans to appeal.

Full Story:
Bloomberg

Related Summaries