The first group (9) of large banks have submitted their so-called living wills to the Fed and...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

The first group (9) of large banks have submitted their so-called living wills to the Fed and they've been made available to the public. Required by Dodd-Frank, the documents are supposed to lay out how the giants could be wound down in bankruptcy in event of material financial distress or company failure.