Although doubts persist about whether federal banking regulators will ever really employ new powers to seize a large nonbank financial company, a new insurance product may signal the market's belief that such authority will one day be used.
The insurance broker Marsh USA Inc. recently unveiled protection for the prospect that the Federal Deposit Insurance Corp. — authorized by the Dodd-Frank Act to resolve firms too big for bankruptcy — could someday try to punish officers of a failed company by reclaiming their salaries.
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