The Financial Stability Council voted to adopt changes that Treasury Secretary Scott Bessent, who chairs the council, put forth Thursday, including scaling back “undue burdens” that he argues dent economic growth. “In the past, efforts to safeguard the financial system have resulted in burdensome and often duplicative regulations,” said Bessent. “Policymakers have not routinely considered the cumulative burdens of regulatory and supervisory regimes … or how a failure to modernize regulations can hurt bo ...