{"bills":[{"photos":{"featured":"https://assets.causes.com/bill/photo/hr4894-114/featured_to-repeal-title-ii-of-the-dodd-frank-wall-street-reform-and-consumer-protection-act-1475462536.jpg","featured_large":"https://assets.causes.com/bill/photo/hr4894-114/featured_large_to-repeal-title-ii-of-the-dodd-frank-wall-street-reform-and-consumer-protection-act-1475462536.jpg","shareable":"https://n.causes.com/share-images/bills/hr4894-114.png"},"introduced_on":"2016-04-11","title_override":"Should the Feds Not Have the Ability to Liquidate Failing Financial Firms?","summary_override":"

This bill would repeal Title II of the Dodd-Frank Act, which gives the federal government the ability to force large, systemically important financial institutions into liquidation if they become or are in danger of becoming insolvent.

Currently, the Federal Deposit Insurance Corporation (FDIC) has the ability to resolve the bankruptcies of such banks and financial institutions over a three to five year period if they become insolvent. The FDIC is authorized to borrow from the Treasury to provide the cash for an “orderly liquidation fund” that would be used to pay off the creditors of failed banks.

","official_title":"To repeal title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act.","short_title":null,"popular_title":null,"short_summary":"(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)\n\n(Sec. 1) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal Title II (Orderly Liquidation Authority), concerning the bankruptcy of financial institutions, and makes conforming amendments to the Federal Deposit Insurance Act and the Federal Reserve Act.","summarized":true,"cost":null,"cost_commentary":"The CBO estimates that enacting this bill would reduce the deficit by $15.2 billion over the 2017-2026 period.","impact":"Large, systemically important financial institutions that are or are at risk of becoming insolvent; the FDIC; and the Treasury.","argument_for":"The FDIC shouldn’t be able to choose which failing financial institutions are in need of liquidation and bail them out with taxpayer dollars. This bill takes that option away from the FDIC.","argument_against":"This bill undermines the Dodd-Frank Act and the stability of the financial system by getting rid of an important mechanism that allows failing megabanks to be efficiently liquidated.","bill_type":"hr","published":true,"type":"FederalBill","id":"hr4894-114","bill_id":"hr4894-114","formal_id":"H.R. 4894","chamber":"house","congress":114,"last_action_at":"2016-05-19T00:00:00.000Z","active":true,"enacted":false,"enacted_at":null,"vetoed":false,"last_vote_at":null,"debated_on":null,"congress_url":"https://www.congress.gov/bill/114th/house-bill/4894","plain_text_url":"https://www.gpo.gov/fdsys/pkg/BILLS-114hr4894ih/html/BILLS-114hr4894ih.htm","shareable_image_url":"https://n.causes.com/share-images/bills/hr4894-114.png","congress_full_text_url":"https://www.congress.gov/bill/114th/house-bill/4894/text","is_current_congress":false,"last_version_on":"2016-04-11","related_bill_ids":["s1840-114","hr5983-114"],"progress":"Introduced","house_passage_result":false,"senate_passage_result":false,"position_count":105,"committees":[{"name":"Committee on Agriculture","chamber":"house","committee_id":"HSAG","subcommittee":false},{"name":"Commodity Exchanges, Energy, and Credit","chamber":"house","committee_id":"HSAG22","subcommittee":true},{"name":"Committee on Financial Services","chamber":"house","committee_id":"HSBA","subcommittee":false},{"name":"Committee on the Judiciary","chamber":"house","committee_id":"HSJU","subcommittee":false},{"name":"Antitrust, Commercial and Administrative Law","chamber":"house","committee_id":"HSJU05","subcommittee":true},{"name":"Committee on Ways and Means","chamber":"house","committee_id":"HSWM","subcommittee":false}],"links":{"rollCalls":"/api/roll_calls?bill_id=hr4894-114","details":"/api/bills/hr4894-114/details","sharingMessage":"/api/sharing_messages/hr4894-114","positionsFor":"/api/bills/hr4894-114/positions/for","positionsAgainst":"/api/bills/hr4894-114/positions/against"},"upcoming":false,"cosponsors_count":1,"slug":"hr4894-114-to-repeal-title-ii-of-the-dodd-frank-wall-street-reform-and-consumer-protection-act","latest_chamber_votes_id":null,"official_url":null,"target_video":true,"following":false,"vote_count":1028,"yea_vote_count":568,"nay_vote_count":456,"passed_house":false,"passed_senate":false,"vote_id":null,"my_position_id":null,"topic_ids":["government","economy"],"issue_ids":["banking","government","economy","federal-agencies","transparency"],"sponsor_id":199}],"votes":[],"issues":[{"id":"banking","name":"Banking","slug":"banking","description":"Vote on the latest federal legislation regarding Banking. Make your voice heard about the issues you care about.\r\n","page_title":"Banking Legislation - Vote on Bills, Stay informed, Hold Your Reps Accountable","icons":{"black":"https://assets.causes.com/issue/icon/banking/black_banking-1429042064.svg","grey":"https://assets.causes.com/issue/icon/banking/grey_banking-1429042064.svg","white":"https://assets.causes.com/issue/icon/banking/white_banking-1429042064.svg"},"cover_image_url":null,"is_following":false},{"id":"government","name":"Government","slug":"government","description":"Federal legislation related to the operations of the US Federal Government. Bills can encompass government administration, regulation of political parties, the US postal service, US territories and public contracts.","page_title":"US Government - Federal legislation - Vote on Bills, Stay informed, Hold Your Reps Accountable","icons":{"black":"https://assets.causes.com/issue/icon/government/black_government-1453508811.svg","grey":"https://assets.causes.com/issue/icon/government/grey_government-1453508811.svg","white":"https://assets.causes.com/issue/icon/government/white_government-1453508811.svg"},"cover_image_url":null,"is_following":false},{"id":"economy","name":"Economy","slug":"economy","description":"The US Economy is heavily impacted by Federal legislation. Here you can find bills encompassing US monetary policy, the US Federal Budget, overall government spending, appropriations and how we handle the US federal debt and state finances. ","page_title":"Legislation related to the US Economy, monetary policy, the federal budget and government spending - Vote on Bills, Stay informed, Hold Your Reps Accountable","icons":{"black":"https://assets.causes.com/issue/icon/economy/black_economy-1429042041.svg","grey":"https://assets.causes.com/issue/icon/economy/grey_economy-1429042041.svg","white":"https://assets.causes.com/issue/icon/economy/white_economy-1429042041.svg"},"cover_image_url":null,"is_following":false},{"id":"federal-agencies","name":"Federal Agencies","slug":"federal-agencies","description":"Vote on the latest federal legislation regarding Federal Agencies. Make your voice heard about the issues you care about. \r\n","page_title":"Federal Agencies Legislation - Vote on Bills, Stay informed, Hold Your Reps Accountable","icons":{"black":"https://assets.causes.com/issue/icon/federal-agencies/black_federal-agencies-1429042054.svg","grey":"https://assets.causes.com/issue/icon/federal-agencies/grey_federal-agencies-1429042054.svg","white":"https://assets.causes.com/issue/icon/federal-agencies/white_federal-agencies-1429042054.svg"},"cover_image_url":null,"is_following":false},{"id":"transparency","name":"Transparency","slug":"transparency","description":"Vote on the latest federal legislation regarding Transparency. Make your voice heard about the issues you care about. \r\n","page_title":"Transparency Legislation - Vote on Bills, Stay informed, Hold Your Reps Accountable","icons":{"black":"https://assets.causes.com/issue/icon/transparency/black_transparency-1453508996.svg","grey":"https://assets.causes.com/issue/icon/transparency/grey_transparency-1453508996.svg","white":"https://assets.causes.com/issue/icon/transparency/white_transparency-1453508996.svg"},"cover_image_url":null,"is_following":false}],"users":[{"name":"John","vote_count":585,"photos":{"large":"https://graph.facebook.com/591964545/picture?width=150&height=150","small":"https://graph.facebook.com/591964545/picture?width=75&height=75","tiny":"https://graph.facebook.com/591964545/picture?width=20&height=20","facebook":"https://graph.facebook.com/591964545/picture"},"links":{"following":"/api/users/pWRKOXZA/following","followers":"/api/users/pWRKOXZA/followers"},"about_me":null,"twitter_id":null,"facebook_id":null,"youtube_id":null,"google_plus_id":null,"website":null,"slug":null,"issue_count":5,"is_following":null,"influence_score":2340,"influence_level":30,"follower_count":17,"following_count":4,"position_count":265,"id":"pWRKOXZA","partner_id":null}],"bill_position":{"flagged":false,"id":"df916a39-5a71-4eb2-b78f-96448f6d3ca6","argument_for":null,"argument_against":"Right. So let's take the industry that wrecked the economy when left to its own devices and leave it to its own devices. Have we learned nothing?","show_argument_for":false,"show_argument_against":true,"upvote_count":0,"upvotes_for_count":null,"upvotes_against_count":0,"has_upvoted":false,"endorsement_count":0,"links":{"self":"https://www.causes.com/positions/df916a39-5a71-4eb2-b78f-96448f6d3ca6"},"body":"Right. So let's take the industry that wrecked the economy when left to its own devices and leave it to its own devices. Have we learned nothing?","stance":"nay","created_at":"2016-10-03T22:08:18.662Z","shareable_image_url":"https://n.causes.com/share-images/positions/df916a39-5a71-4eb2-b78f-96448f6d3ca6.png","note_color":null,"note_text":null,"bill_id":"hr4894-114","user_id":"pWRKOXZA","endorser_ids":[]}}

Like Causes?

John

Should the Feds Not Have the Ability to Liquidate Failing Financial Firms?