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.
In a court filing, the CFPB said its leadership has directed staff to initiate new rulemaking to implement Section 1071 of the Dodd-Frank Act and plans to soon release a proposal to possibly replace or change its current...
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $122.7 billion in December, down $9.0 billion from $78.9 billion in February, revised.
The Treasury Department announced it is planning events, initiatives and public engagement opportunities throughout April as part of National Financial Literacy Month.
FS-ISAC released a report on how financial institutions can strengthen collaboration between their cybersecurity, fraud, financial crime and anti-money laundering teams.
The ISM services index decreased 2.7% from the prior month to land at 50.8% in March, the Institute for Supply Management said. Readings over 50% indicate expansion.
The Senate Banking Committee voted along party lines to advance the nominations of former FDIC board member Jonathan Gould to be comptroller of the currency and Paul Atkins to be chair of the SEC.
