MBA CEO Calls FSOC Proposal to Regulate Non-Banks “Unnecessary”

MPA, Nov. 1, 2023-Jonalyn Cueto
Bob Broeksmit, Mortgage Bankers Association’s (MBA) president and CEO, shared in a blog post his insights on the Financial Stability Oversight Council’s (FSOC) proposal in spring to remove procedural requirements and allow the fast-tracking of the designation of non-bank financial companies as systematically important financial institutions (SIFI), describing the proposal as unnecessary, noting it would negatively impact the mortgage market and consumers.
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