By FATIMA HUSSEIN

WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent is proposing to overhaul a regulatory panel that monitors the nation’s financial stability, by advocating for looser regulations.

The Financial Stability Oversight Council, a U.S. body created in the wake of the 2008 global financial crisis, monitors risks to the financial system and coordinates regulators’ approaches to overseeing the U.S. financial system. In a letter released by Bessent Thursday, he said “too often in the past, efforts to safeguard the financial system have resulted in burdensome and often duplicative regulations.”

“Our administration is changing that approach,” said Bessent, who chairs the committee, which is meeting on Thursday.

Bessent said the council will begin to “consider where aspects of the U.S. financial regulatory framework impose undue burdens and where they harm economic growth, thereby undermining financial stability.”

Voting members of the FSOC committee include the head of the Board of Governors of the Federal Reserve System; the Comptroller of the Currency; the director of the Consumer Financial Protection Bureau; the chairman of the Securities and Exchange Commission and several other agency heads.

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It was established in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act, a sweeping U.S. financial reform law created to prevent future economic meltdowns.

A critic of the Trump administration, Sen. Elizabeth Warren, D-Mass., panned the idea of loosening financial regulations, saying “taking this hands-off approach to financial stability would leave our financial system and economy at greater risk in any economic environment.”

“Going down this path just as cracks are emerging in the financial system and yellow lights are flashing across our economy is especially reckless,” she said in a statement, citing the recent bankruptcies of subprime auto lender Tricolor Holdings, auto parts company First Brands, and home remodeling platform Renovo Home Partners.

By MEG KINNARD

Homeland Security Secretary Kristi Noem on Thursday linked the seizure of an oil tanker off the coast of Venezuela to the Trump administration’s counterdrug efforts in Latin America as tensions escalate with the government of President Nicolás Maduro.

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Noem’s assertion, which came during her testimony to the House Homeland Security Committee, provided the Republican administration’s most thorough assessment so far of why it took control of the vessel on Wednesday. Incredibly unusual, the use of U.S. forces to seize a merchant ship was the latest step in the administration’s pressure campaign on Maduro, who has been charged with narcoterrorism in the United States.

Asked to delineate the U.S. Coast Guard’s role in the effort, Noem called the tanker seizure “a successful operation directed by the president to ensure that we’re pushing back on a regime that is systematically covering and flooding our country with deadly drugs and killing our next generation of Americans.”

Noem went on lay out the ”lethal doses of cocaine” she said had been kept from entering the U.S. as a result.

On Wednesday at the White House, Trump told reporters that the tanker “was seized for a very good reason.” Asked what would happen to the oil aboard the tanker, Trump said, “Well, we keep it, I guess.”

The U.S. has built up the largest military presence in the region in decades and launched a series of deadly strikes on alleged drug-smuggling boats in the Caribbean Sea and the eastern Pacific Ocean, a campaign that is facing growing scrutiny from Congress.

Trump, who has said land attacks are coming soon but has not offered more details, has broadly justified the moves as necessary to stem the flow of fentanyl and other illegal drugs into the U.S.

Venezuela’s government said in a statement that the tanker seizure “constitutes a blatant theft and an act of international piracy.” Maduro has insisted the real purpose of the U.S. military operations is to force him from office.

By JOSH FUNK, AP Transportation Writer

Senators from both parties pushed Thursday for changes to a massive defense bill after crash investigators and victims’ families warned the legislation would undo key safety reforms stemming from a collision between an airliner and Army helicopter over Washington, D.C., that killed 67 people.

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The head of the National Transportation Safety Board investigating the crash, a group of the victims’ family members and senators on the Commerce Committee all said the bill the House advanced Wednesday would make America’s skies less safe. It would allow the military to operate essentially the same way as it did before the January crash, which was the deadliest in more than two decades, they said.

Democratic Sen. Maria Cantwell and Republican Committee Chairman Sen. Ted Cruz filed two amendments Thursday to strip out the worrisome helicopter safety provisions and replace them with a bill they introduced last summer to strengthen requirements, but it’s not clear if Republican leadership will allow the National Defense Authorization Act to be changed at this stage because that would delay its passage.

“We owe it to the families to put into law actual safety improvements, not give the Department of Defense bigger loopholes to exploit,” the senators said.

Right now, the bill includes exceptions that would allow military helicopters to fly through the crowded airspace around the nation’s capital without using a key system called ADS-B to broadcast their locations just like they did before the January collision. The Federal Aviation Administration began requiring that in March. NTSB Chairwoman Jennifer Homendy called the bill a “significant safety setback” that is inviting a repeat of that disaster.

“It represents an unacceptable risk to the flying public, to commercial and military aircraft, crews and to the residents in the region,” Homendy said. “It’s also an unthinkable dismissal of our investigation and of 67 families … who lost loved ones in a tragedy that was entirely preventable. This is shameful.”

The military used national security waivers before the crash to skirt FAA safety requirements on the grounds that they worried about the security risks of disclosing their helicopters’ locations. Tim and Sheri Lilley, whose son Sam was the first officer on the American Airlines jet, said this bill only adds “a window dressing fix that would continue to allow for the setting aside of requirements with nothing more than a cursory risk assessment.”

Homendy said it would be ridiculous to entrust the military with assessing the safety risks when they aren’t the experts, and neither the Army nor the FAA noticed 85 close calls around Ronald Reagan National Airport in the years before the crash. She said the military doesn’t know how to do that kind of risk assessment, adding that no one writing the bill bothered to consult the experts at the NTSB who do know.

The White House and military didn’t immediately respond Thursday to questions about these safety concerns. But earlier this week Trump made it clear that he wants to sign the National Defense Authorization Act because it advances a number of his priorities and provides a 3.8% pay raise for many military members.

The Senate is expected to take up the bill next week, and it appears unlikely that any final changes will be made. But Congress is leaving for a holiday break at the end of the week, and the defense bill is considered something that must pass by the end of the year.

But Senate Majority Leader Sen. John Thune, a Republican, didn’t immediately respond to questions about whether he will allow any amendments to the bill to be considered.

Ramsey County has named Jaime Wilkins as its next Housing Stability director starting Dec. 22.

Wilkins will oversee programs from homelessness prevention and emergency shelter to long-term housing stability and will set strategic direction for the department. She will be responsible for developing partnerships with community organizations, local governments and state agencies.

Wilkins also will manage department operations, staff, budgets and program performance and represent the county in work with partner agencies on housing stability, homelessness and other related policy issues.

“I’m honored and excited to join Ramsey County in this role,” Wilkins said in a statement. “Housing security is foundational to a thriving community, and I’m eager to work alongside our dedicated partners, staff and residents to strengthen supports across the entire housing continuum. Ramsey County has long demonstrated a deep commitment to helping individuals and families not only find housing but build long-term stability — and I’m proud to contribute to that mission.”

The county’s Housing Stability department administers and coordinates emergency supportive services to people experiencing sheltered and unsheltered homelessness or housing instability.

Wilkins replaces former Housing Stability Director Keith Lattimore whose last day with the county was in August. Lattimore and then-Deputy Director of Housing Stability Kimberly Cleminson exited their roles with the county following an internal investigation related to their involvement with a recuperative care business in Brooklyn Center. County officials at the time did not say whether Lattimore and Cleminson resigned or were fired.

Wilkins most recently served as associate vice president of Economic Opportunity and Youth Support at Lutheran Social Service of Minnesota. She also has served as senior director of Housing Services for Lutheran Social Services and as director of Housing and Supportive Services at YWCA St. Paul. She has worked directly with county residents earlier in her career as a child protection worker and family advocate.

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Wilkins has a bachelor’s degree in early childhood education/child development and family studies and a master’s degree in human services and leadership of organizational management from Capella University. She serves on the board of HousingLink and the Minnesota Council of Nonprofits and previously on the board of the Suburban Metro Continuum of Care.

“Jaime brings an exceptional blend of experience, leadership and deep community knowledge to this role,” said Deputy County Manager Karen Francois in a statement. “Her extensive background in housing and social services — combined with her direct service to Ramsey County residents — equip her to lead our Housing Stability team with both strategic vision and a strong commitment to equity.”