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Monday, April 14, 2014

FDIC Final Rule: Restrictions on Sales of Assets

The FDIC is adopting a final rule final rule to implement section 210(r) of the Dodd-Frank Act which would prohibit individuals or entities that have, or may have, contributed to the failure of a ‘‘covered financial company’’ to buy a covered financial company’s assets from the FDIC. The final rule establishes a self-certification process that will become a prerequisite to the purchase of assets of a covered financial company from the FDIC.

The final rule will be effective July 1, 2014.

Read the final rule.

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