Senate Banking Committee Ranking Member Elizabeth Warren pressed Federal Reserve Chair nominee Kevin Warsh to explain his decisions as Fed Governor during the 2008 financial crisis.

SEC Chair Paul Atkins supported a Financial Stability Oversight Council proposal to revise nonbank designation interpretive guidance, though he reiterated his view that the underlying designation framework was fundamentally flawed.

Federal Reserve Governor Lisa D. Cook outlined how the Fed is refining its approach to financial stability by expanding scenario analysis, addressing data gaps, and tracking linkages across markets and institutions.

SEC Commissioner Hester M. Peirce argued that current regulatory approaches, which prioritize prescriptive rules, are becoming overly rigid and turning fund management into a costly compliance exercise.

The Financial Stability Oversight Council proposed revised guidance "on nonbank financial company determinations and its analytic framework for financial stability risks."