H.R. 4247 · 115th Congress
Restoring Financial Market Freedom Act of 2017
- Stage
- Reported from committee
- Sponsor
- Ted Budd
- Introduced
- 2017-11-03
- Latest action
- 2019-01-02 · Reported by the Committee on Financial Services. H. Rept. 115-1119.
Summary
Restoring Financial Market Freedom Act of 2017
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Financial Stability Oversight Council to designate financial market utilities (i.e., payment, clearing, and settlement systems) as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions.