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FSOC must "be allowed to ask questions," Lew said in his visit to Capitol Hill. Before the crisis, "regulators should have asked more questions about institutions and activities, not fewer."

Lew Defends FSOC's Mandate to Uncover Systemic Risk

In the face of continuing criticism of the Financial Stability Oversight Council, Treasury Secretary Jack Lew said the special risk oversight panel must be allowed to do its job.

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