The 2010 enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act established the Financial Stability Oversight Council (FSOC). Consisting of 10 voting members and 5 nonvoting members, the Council brings together the expertise of federal financial regulators, state regulators, and an insurance expert appointed by the President. The creation of the FSOC gave the NCUA Chairman a seat on this Council.
The FSOC will provide, for the first time, comprehensive monitoring to ensure the stability of our nation's financial system. The Council is charged with:
- identifying threats to the financial stability of the United States
- promoting market discipline; and
- responding to emerging risks to the stability of the U.S. financial system
For more information on the FSOC, visit:
Department of the Treasury's FSOC Website