WASHINGTON — Senate Banking Committee Chairman Richard Shelby sent a letter to regulators this week raising concerns about the role of the Financial Stability Board in designating large banks as systemically risky and whether the international council has undue influence on U.S. policy.
"During recent hearings… numerous witnesses have expressed concerns regarding the Financial Stability Board," Shelby wrote in a letter dated Sept. 29. "While the concerns pertain generally to the lack of transparency and accountability surrounding the FSB’s deliberations and decisions, I would like to bring three specific concerns to your attention."
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