Dodd-Frank Dinged: House Repeals Liquidation Powers

What's Next In Payments®
5:42 PM EDT April 19th, 2012

Republicans in the House of Representatives repealed a part of Dodd-Frank that gave the Federal Deposit Insurance Corp. the power to liquidate failed financial institutions seized by the government. Republicans say the change will take $22 billion away from the federal deficit over the next ten years.

“What the Republican motion here does today is return us to 2008 where there is no capacity to deal, in a reasonable way, with a failed institution,” said Barney Frank, in a report published by Reuters.

Read the full story here.

Comments
Also by This Author
What's Hot
News
Amazon’s Hip To Be (Like) Square
Acquiring
Rival Baby eCommerce Sites Merge
Europe
Have UK Mobile Payments Taken A Global Lead?
Merchant Innovation
WeChat Launches In-App Commerce
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
Sears’ Big Data Omnichannel Adventure
Company Spotlight
Who’s The Most Digital Payments Ready?
News
Amazon’s Hip To Be (Like) Square
Commentary
Can Visa Checkout Ignite?
View All Articles ››