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Will Wall Street’s Living Wills Be Dead on Arrival Again This Year?

Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued this statement as Wall Street’s biggest banks prepare to file their so-called “living wills” next week with the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). These resolution plans are required under the Dodd-Frank Wall Street financial reform law to ensure that the too-big-to-fail banks can be resolved in bankruptcy without any taxpayer-funded bailouts.