• House Financial Services Committee and Treasury Department Release Draft of Financial Stability Improvement Act
  • November 10, 2009 | Author: Charles E. Dropkin
  • Law Firm: Proskauer Rose LLP - New York Office
  • On October 27, 2009, the House Financial Services Committee and the Treasury Department released a draft of the Financial Stability Improvement Act to address systemic risk and "too big to fail" financial institutions. Treasury Secretary Timothy Geithner testified to the House Financial Services Committee regarding the proposed legislation on October 29 and Congress is expected to hold additional hearings on the proposed legislation.