Dodd-Frank Dinged: House Repeals Liquidation Powers

What's Next In Payments®
5:42 PM EST 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Republicans in the House of Representatives repealed a part of Dodd-Frank that gave the Federal Deposit Insurance Corp.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
B2B Payments
VC: Too Soon For B2B In China
B2B Payments
IBM Rolls Out New B2B Commerce Package
News
Beacons Go Upscale
News
Why Consumers No Longer Buy On Impulse
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
Cool
Small Biz Saturday Gets No Respect
B2B Payments
B2B Incubator Looks For Vertical Expertise First
B2B Payments
VC: Too Soon For B2B In China
B2B Payments
IBM Rolls Out New B2B Commerce Package
View All Articles ››