Cornyn Introduces Bill To End "Too Big To Fail' on Dodd-Frank Anniversary

U.S. Senator John Cornyn (R-TX) today introduced the Taxpayer Protection and Responsible Resolution Act (TPRRA) to end taxpayer-funded bailouts for large financial institutions.

"The only way to appropriately mark the fifth anniversary of Dodd-Frank is by repealing the most egregious portions of the bill and replacing them with a solution that ends "too big to fail' once and for all," said Sen. Cornyn. "This legislation abolishes Dodd-Frank's bailout authority and replaces it with an orderly bankruptcy process that imposes losses on banks -- not taxpayers."

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