Fed ends 'too big to fail' lending to collapsing banks

Posted online December 1, 2015 | 12:44 pm

The Federal Reserve yesterday adopted a new rule that limits its ability to lend emergency money to banks.

Part of the Dodd-Frank Act of 2010, the new rule should, in theory, quash the notion that Wall Street banks are "too big to fail."

The government would no longer be able to save banks during a crisis.

Read more from CNNMoney.

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