Scott Bessent to propose looser oversight by post-crisis FSOC

US Treasury Secretary Scott Bessent is reportedly preparing a proposal urging the Financial Stability Oversight Council (FSOC) to adopt a looser, more flexible regulatory approach. According to CNBC, his letter will argue that some rules may impose undue burdens and hinder economic growth. FSOC, created after the 2008 crisis, oversees systemic risks across the US financial system.