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.
Republic First Bank closed in Pennsylvania
State regulators closed Republic First Bank, doing business under the Republic Bank brand, in Philadelphia, and appointed the FDIC as...