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HR 5421 113th Congress House

Financial Institution Bankruptcy Act of 2014

Official title: To amend title 11 of the United States Code in order to facilitate the resolution of an insolvent financial institution in bankruptcy.

Introduced: September 9, 2014 See on congress.gov
Finance and Financial Sector Banking and financial institutions regulationBankruptcyFederal Reserve SystemFederal appellate courts
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Financial services and investmentsJudgesJudicial review and appealsSecurities
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 15 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 2, 2014
Received in the Senate and Read twice and referred to the Committee on the Judiciary.
Dec 1, 2014
Motion to reconsider laid on the table Agreed to without objection.
Dec 1, 2014
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8174-8177)
Dec 1, 2014
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8174-8177)
Dec 1, 2014
DEBATE - The House proceeded with forty minutes of debate on H.R. 5421.
Dec 1, 2014
Considered under suspension of the rules. (consideration: CR H8174-8181)
Dec 1, 2014
Mr. Goodlatte moved to suspend the rules and pass the bill, as amended.
Dec 1, 2014
Placed on the Union Calendar, Calendar No. 470.
Dec 1, 2014
Reported by the Committee on Judiciary. H. Rept. 113-630.
Sep 10, 2014
Ordered to be Reported by Voice Vote.
Sep 10, 2014
Committee Consideration and Mark-up Session Held.
Sep 10, 2014
Subcommittee on Regulatory Reform, Commercial And Antitrust Law Discharged.
Sep 9, 2014
Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Sep 9, 2014
Referred to the House Committee on the Judiciary.
Sep 9, 2014
Introduced in House
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 Latest action December 2, 2014

Received in the Senate and Read twice and referred to the Committee on the Judiciary.

 Plain-English summary Congressional Research Service

Financial Institution Bankruptcy Act of 2014 - (Sec. 2) Amends federal bankruptcy law with respect to a "covered financial corporation" incorporated or organized under any federal or state law (other than a stockbroker, a commodity broker, or a domestic or foreign insurance company or financial institution meeting certain criteria) that is: (1) a bank holding company; or (2) a corporation that exists for the primary purpose of owning, controlling, and financing its subsidiaries, has total consolidated assets of $50 billion or greater, and whose annual gross revenues or consolidated assets meet specified tests.

Allows a case under subchapter V (established by this Act) to be converted to chapter 7 (Liquidation) if certain conditions are met, including: (1) a court-ordered appointment of a special trustee, and 2) the court finds that conversion is in the best interest of creditors and the estate.

(Sec. 3) Adds "Subchapter V - Liquidation, Reorganization, or Recapitalization of a Covered Financial Corporation," setting forth requirements and prohibitions regarding: (1) commencement of a case concerning a covered financial corporation; (2) a special trustee and bridge company; (3) special transfer of the property of the estate in bankruptcy; (4) treatment of qualified financial contracts and affiliate contracts; (5) licenses, permits, and registrations; (6) exemption from securities laws; and (7) inapplicability of certain avoiding powers.

Authorizes the Board of Governors of the Federal Reserve, the Securities Exchange Commission (SEC), the Office of the Comptroller of the Currency of the Department of the Treasury, and the Federal Deposit Insurance Corporation (FDIC) to raise and be heard on any issue in any case or proceeding under Subchapter V.

(Sec. 4) Amends the federal judicial code to require the Chief Justice of the United States to designate: (1) at least three appellate judges in at least four circuits to serve on an appellate panel available to hear appeals in a bankruptcy case concerning a covered financial corporation, and (2) a panel of at least 10 bankruptcy judges to be available to hear a case under subchapter V.

Prescribes requirements for the assignment of bankruptcy judges to subchapter V cases.

 Related & companion bills 1
  • S 1861 Related bill Taxpayer Protection and Responsible Resolution Act
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
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APA
U.S. Congress. (2026). H.R. 5421: Financial Institution Bankruptcy Act of 2014. 113th Congress. Open America. https://openamerica.io/bill/113-HR-5421/
MLA
"H.R. 5421: Financial Institution Bankruptcy Act of 2014." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-5421/.
Bluebook (legal)
H.R. 5421, 113th Cong. (2026), https://openamerica.io/bill/113-HR-5421/.
Markdown link
[H.R. 5421: Financial Institution Bankruptcy Act of 2014](https://openamerica.io/bill/113-HR-5421/)
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