The House Judiciary Committee today passed a bill that would create new provisions in the federal bankruptcy code to wind down a failing large bank with more than $50 billion in assets. The bipartisan bill, which cleared the committee unanimously, is intended to provide a bankruptcy code-based alternative to the Dodd-Frank Act’s orderly liquidation process. A similar bill passed the House in the last Congress.
Mortgage rates rise
The rate for a 30-year fixed-rate mortgage was 6.83% this week. The rate for a 15-year fixed-rate mortgage was 6.03%.