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FSB holds too much sway over US regulators, say Republicans
Lew faces questions in Congress over FSB impact on US banks and markets
![fsb-gavel fsb-gavel](/sites/default/files/styles/landscape_750_463/public/import/IMG/791/354791/fsb-gavel.jpeg.webp?h=659bf036&itok=rtcjAfBS)
US regulators are in hock to the Financial Stability Board (FSB), an unelected body that has designated non-banks as systemically important financial institutions (Sifis) without regard to legal requirements for public consultation, congressional Republicans have claimed.
"I'm concerned that US regulators rely – at least in part – on FSB [Sifi] determinations, yet the FSB is not subject to the procedural due process," said California representative Ed Royce, speaking during a hearing of the
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