OLA rollback plan threatens US bankruptcy reform

Supporters of bankruptcy act want it separated from repeal of Dodd-Frank Title II

The US Senate
Controversial measure: passage of HR 10 would eliminate Title II of Dodd-Frank – the Orderly Liquidation Authority, which allows federal regulators to resolve a bank

Supporters of a key, long-delayed bankruptcy reform bill in the US are urging lawmakers to separate the proposal from a more controversial plan to dismantle regulators’ powers of resolution.

On June 8, the House of Representatives passed the Financial Choice Act (HR 10), a bill that seeks to roll back much of the Dodd-Frank Act by 233 votes to 186 along party lines. If it passes the Senate, the bill would establish a new procedure called the Financial Institution Bankruptcy Act (Fiba), designed

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