Sean Duffy actually said...

Clearly, they face a lot of challenges in this hyper-regulatory environment.

Per Dodd-Frank, a non-bank SIFI designation must meet the definition of 'predominantly engaged in a financial activity.'

Is it possible that FSOC will come out with its non-bank SIFI designations before the Fed submits its final rule and definition?

Congress was very focused and very concerned about an expansion of this law to encompass companies that have nothing to do with the financia...