Under FDICIA, who would have to approve in order for the too-big-to-fail policy to be implemented?

Question

Quizplus · Accepted Answer

According to FDICIA, the too-big-to-fail policy can only be implemented if it is approved by two-thirds of the FDIC's directors, the Fed's Board of Governors, and the Secretary of the Treasury. Therefore, option C is the correct answer. The President of the United States, Congress, the Federal Open Market Committee, and the Comptroller of the Currency do not have the authority to approve the implementation of the too-big-to-fail policy under FDICIA.

Under FDICIA, Who Would Have to Approve in Order for the Too-Big-To-Fail