Daily News: December 3, 2014

House Passes Financial Institution Bankruptcy Bill

The Wall Street Journal reported The House of Representatives has passed a bill that would allow for banks to voluntarily begin bankruptcy.

According to the Journal the bill, known as The Financial Institutional Bankruptcy Act of 2014 allows for financial institutions to voluntarily begin the process of bankruptcy, or in some cases, it allows the Federal Reserve to begin the process.

To read the entire Journal article, click here.