Dodd-Frank Act Resolution Plans (Living Wills) Filing Date Approaches

The Dodd-Frank Act requires large banking organizations and certain other firms to periodically submit resolution plans which describes the strategy for resolution of the company in the event of a material distress or failure. The frequency of the Living Will filing depends on the size and complexity of the organization. As the July 1, 2022 filing deadline approaches for some organizations, review the requirements for financial and insured depository institutions (IDIs) as required in Title I Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), as modified by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).

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