US Treasury Secretary Scott Bessent has announced plans to overhaul the Financial Stability Oversight Council (FSOC), shifting its focus from regulatory policies to a more deregulatory approach to boost economic growth. The council, established after the 2008 financial crisis, will now work with agencies to identify burdens and negative impacts on stability, while exploring how new technology can improve regulation. New working groups will be created to address market resilience, household resilience, artificial intelligence, and crisis preparedness. This move aligns with the administration’s broader deregulation agenda and Bessent’s focus on economic growth, but has drawn criticism from some lawmakers who argue it could undermine financial stability.
Source: https://www.politico.com/news/2025/12/11/treasury-bessent-financial-stability-oversight-council-letter-00686574