Rodge Cohen: Dodd-Frank Fixes "Too Big To Fail"
The announcement itself isn’t a shock, but given the potential players, it’s headline-worthy anyway: the DOJ announced yesterday that it’s officially opening an antitrust probe into Big Tech companies and “whether they had...more
Prime Minister Theresa May has proven herself to be a remarkably good political survivor in the face of tall odds, but even she will have a difficult time this time around. Members of her own Tory party have called for a...more
Unbowed by personal attacks from the White House, Fed Chair Jerome Powell delivered remarks to the Economic Club of New York on Wednesday that markets used as an excuse to jump nearly 600 points by the closing bell. ...more
After more than 110 years as one of its mainstays, General Electric is out of the Dow Jones Industrial Average. It will be replaced by drugstore retailer Walgreens Boots Alliance....more
The US Board of Governors of the Federal Reserve System and the US Federal Deposit Insurance Corporation announced that none of the most recent resolution plans for the eight largest and most complex domestic banking...more
US regulators have given passing grades to the living wills for all 8 major US banks, a reversal from the April 2016 determination that 5 of the 8 had deficiencies in their bailout-prevention plans....more
"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more
SEC Adopts Trade Acknowledgment and Verification Rules for Security-Based Swap Transactions - On June 8, 2016, the Securities and Exchange Commission publicized the implementation of "rules that will establish timely and...more
With regulators’ rejection of big-bank living wills still very fresh in mind, the Upshot suggests that keeping powerful banks “on their toes . . . may end up playing a surprisingly important role in keeping the financial...more
US regulators are reportedly preparing a handful of the US’s biggest banks for news that their living wills (their plans for winding down without a taxpayer bailout in the case of a potential bankruptcy) aren’t going to cut...more
GAO has issued a report which noted the FDIC and Federal Reserve have developed separate but similar review processes for determining whether a resolution plan, often referred to as a “living will,” is “not credible” or would...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 contains two sets of provisions for managing the insolvency of financial institutions. First, the legislation creates an Orderly Liquidation Authority...more