The FinServ Financial Institutions Subcommittee today renewed Republican attack on the Dodd-Frank resolution regime (see Client Reports in the RESOLVE series), arguing that it does not do enough to end too big to fail. However, no specific initiatives were outlined to rewrite the law, suggesting that the FDIC’s emerging regulatory framework for the law’s orderly liquidation authority (OLA) is not at risk of immediate revision. However, Republicans and several witnesses pushed for very tough OLA standards, in part based on skepticism about the degree to which living wills (see FSM Report LIVINGWILL4) will ensure ready resolution of systemic institutions. This report details the session’s assessment of the law and pending rules in this area.
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