WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent is proposing changes to the Financial Stability Oversight Council. It’s a body that was created after the 2008 global financial crisis to prevent future economic meltdowns. Bessent is advocating for looser regulations. In a letter released Thursday, Bessent says efforts to safeguard the financial system have often resulted in burdensome regulations. He said the Trump administration is changing that approach. Democratic Senator Elizabeth Warren said reducing regulations would create too much risk.
(Copyright 2025 The Associated Press. All Rights Reserved.)
