Special Bankruptcy Process For Failed Financial Institutions?
… Committee are proposing legislation that would create a special bankruptcy process for failed financial institutions.
Members are discussing a two-stage process that would create a preferential option for bankruptcy followed by a regulator-managed resolution if bankruptcy fails, the person said. The source requested anonymity because the draft is in flux and has not been made public.
Dodd’s proposal would give the Federal Deposit Insurance Corp the authority to dismantle large …
Tags: Bankruptcy Chris Dodd Failed Financial Institutions fdic
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