There will be no more bailouts of financial institutions, a top official of the Obama administration said in what appears to be an attempt to pre-empt Republicans efforts to water down the Dodd-Frank Act.

"No financial institution, regardless of its size, will be bailed out by taxpayers again," Mary J. Miller, U.S. Treasury undersecretary for domestic finance, said at a financial conference in New York Thursday night.

Miller's unequivocal comments appeared aimed at removing one of the hammers being wielded by Republicans against the Obama administration.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.