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New Bill Outlines Process for Financial Institutions to File for Bankruptcy

CLLA Staff, Staff | January 02, 2014

At the end of the first session of the 113th Congress, Senators John Cornyn (R-Texas) and Pat Toomey (R-Penn.) introduced S. 1861, a new bill involving financial institutions and bankruptcy.

Designed to save taxpayer money and end financial institution bailouts, the bill provides for a process to allow financial institutions to go bankrupt.

The bill has been referred to the Judiciary Committee. To read the full bill text, click here.


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