Donald John Trump

“ The Archivist of the United States
Subject: Financial Stability Oversight Counci
Memorandum for the Secretary of the Treasury
The Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203 (the "Dodd-Frank Act") , authorizes the Financial Stability Oversight Council (FSOC) to determine that a nonbank financial company's material financial distress or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities could pose a threat to the financial stability of the United States. ”

“ These determinations and designations have serious implications for affected entities, the industries in which they operate, and the economy at large. Therefore, it is important to ensure that these processes for making determinations and designations promote market discipline and reduce systemic risk. It is equally important to ensure that, once notified by FSOC that it is under review, any entity under consideration for a determination or designation decision is afforded due, fair, and appropriately transparent process. ”

“ In the report, the Secretary should provide, if appropriate, recommendations for legislation or regulations that would ensure that the FSOC and its activities are consistent with the principles set forth in Executive Order 13772. ”