A group of Republican legislators want the U.S. Government Accountability Office (GAO) to clarify whether guidance letters issued by the Federal Reserve imposing the framework for consolidated supervision of large financial institutions constitutes a “rule” for the purposes of the Congressional Review Act (CRA).
The senators are seeking clarification on requirements relating to capital, liquidity, corporate governance, and recovery and resolution planning.
Read on for details from the letter to GAO Comptroller General Gene Dodaro.
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