Rodge Cohen Quoted in American Banker Article on Imminent Living-Will Deadline

September 2, 2016

On September 2, Mr. Cohen was quoted in an American Banker article titled “Judgment Day for Big Banks as Living-Will Deadline Looms.” The article, which discussed the upcoming October 1 deadline by which the five large banks whose resolution plans were failed by regulators in April must submit revised living wills, described the changing attitudes of banks and regulators as their understanding of the goals of resolution planning has evolved since the introduction of Dodd-Frank.  In the beginning, “nobody was sure whether this could work,” said Mr. Cohen. “But I think as banks have dug into it and they learned more about themselves and all the issues… a lot of that skepticism has disappeared. Nobody wants to go through 2008 ever again, because we've seen how devastating that can be. …The banks would want each other to be in good shape and nobody would want to be the cause of a financial catastrophe.”