Dodd-Frank Ends Too-Big-To-Fail Banks, Treasury Official Says

Law360, New York (April 18, 2013, 10:48 PM EDT) -- The sweeping Dodd-Frank Act has taken taxpayers off the hook for any future financial crises, meaning that no "too-big-to-fail" institution will receive a taxpayer-bailout again, U.S. Treasury Department Undersecretary Mary Miller said Thursday.

The regulation, signed into law in July 2010, "makes it very clear" that foundering financial firms cannot look to the government for bailouts, Miller said at the Hyman P. Minsky Economics Conference organized by Bard College in New York. Her comments followed a more muted verdict from Federal Reserve Gov. Jeremy Stein, who...
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