Fed presidents in conflict over 'too-big-to-fail'

Capitol Hill in Washington DC

Regional Fed presidents and regulators today clashed over the efficacy of the Dodd-Frank Act and how to eliminate government support for large and complex financial institutions, in a hearing before the House of Representatives Committee on Financial Services.

One of the key provisions in the Act is the creation of the Orderly Liquidation Authority (OLA), which allows the Federal Deposit Insurance Corporation (FDIC) to act as a receiver and conduct the liquidation and wind-up of a financial inst

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