U.S. Treasury

Treasury Secretary Scott Bessent on Thursday released a letter proposing to loosen regulations under the Financial Stability Oversight Council, the 15‑member body created by Dodd‑Frank to monitor systemic risk. Bessent argues prior safeguards have become duplicative and burdensome, while critics including Sen. Elizabeth Warren and Americans for Financial Reform warn the move would weaken a key early‑warning system amid rising risks, citing recent bankruptcies and potential AI‑stock bubbles.