When the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in 2010, it created a permanent multi-agency panel called the Financial Stability Oversight Council (FSOC). Proponents of the FSOC said it was needed to help rein in large banks perceived as too-big-to-fail and reduce volatility in financial markets. Yet a broad array of critics now say the FSOC has actually entrenched big banks and embedded them as too-big-to-fail through its selective designation of "systemically important financial institutions."