Federal Reserve Says 31 Largest Banks Passed Dodd Frank “Stress Tests”
Late last week, the Fed said all thirty-one of the largest banks operating in the United States passed the annual stress test which measure a bank’s ability to handle a sever economic downturn such as the one that occurred in 2008. The stress tests came about as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act and have become a critical part of both the U.S., global, financial regulatory framework necessitated by the global financial crisis of six years ago. The test results indicated the larger banks are significantly more prepared to handle an economic crisis than the were pre-2008.
A number of alternative investments were created out of the economic and real estate boom leading up to the 2008 collapse. Those investments include non-traded real estate investment trusts (REIT), promissory notes, mortgage backed securities, direct private placements (DPP), oil & gas limited partnerships and Tennant in common (TIC) real estate investments
If you lost money as a result of an alternative investment that declined during the 2008 financial crisis, please contact the experienced securities fraud attorneys at Colling Gilbert Wright for a free case evaluation.