Comptroller Gould Issues Statement at Financial Stability Oversight Council Meeting — 2026-03-25

WASHINGTON—Comptroller of the Currency Jonathan V. Gould today issued remarks at the Financial Stability Oversight Council (FSOC) meeting about the FSOC’s framework for considering the designation of a nonbank financial company. In his remarks, Comptroller Gould shared the OCC’s support for the proposed framework, which wisely reverts to a common-sense approach consistent with the law. Earlier in my career, I was directly involved in matters relating to the nonbank designation process. I was part of the team of lawyers and consultants that assisted MetLife over a dozen years ago during FSOC’s attempt to designate and thus subject MetLife to Federal Reserve supervision and bank-like regulation. The government’s efforts back then were, and remain, among the most egregious abuses of government power that I have seen in my 25-year career. Both the substance and process of the Council’s MetLife designation were deficient, and a court ultimately overrode FSOC’s action.