Chopra Offers Statements on Large Banks' Living Wills, Proposed FDIC Rule to Amend Bank Resolution Plans.

In an article titled "Chopra Offers Statements on Large Banks' Living Wills, Proposed FDIC Rule to Amend Bank Resolution Plans," CFPB Director Rohit Chopra addressed two matters related to the FDIC. Firstly, he expressed support for a final FDIC rule that enhances requirements for the resolution plans of financial institutions with $50 billion or more in assets. This rule will impose less stringent requirements on banks with assets between $50 billion and $100 billion. Secondly, Chopra criticized the "living wills" submitted by certain large financial institutions for 2023, stating that they continue to pose serious threats to the global financial system in the event of their failure. [Extracted from the article]