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The Wednesday Express: Senate passes tax bill; House passes SIFI bill

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According to Market Intelligence, December 2022

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The Wednesday Express: Senate passes tax bill; House passes SIFI bill

* Following the Senate's 51-48 vote to pass the Republican tax bill, the measure faces another vote from the House of Representatives before moving to the president.

* In a 288-130 vote, the House of Representatives passed a bill that will replace the $50 billion threshold for enhanced supervision with a five-point risk-based assessment.

* While regulators gave the "living wills" of eight megabanks a passing score, they found shortcomings in the resolution plans of Wells Fargo, Bank of America, Goldman Sachs Group and Morgan Stanley. No shortcomings were flagged at JPMorgan Chase, Bank of New York Mellon, Citigroup and State Street.

* With its $4.1 billion takeover of Kindred Healthcare with two private equity firms Welsh Carson Anderson & Stowe and TPG Capital Management, Humana joined its rival insurers in branching out into other healthcare segments.

* Texas-based AIM Bancshares is purchasing Platinum Bancshares of Texas and unit Platinum Bank.

* In Oklahoma, SSB Holdings is buying First Picher Bancshares.

* Beecken Petty O'Keefe & Co., a private equity management firm based in Chicago, acquired administrative services provider Zenith American Solutions from Water Street Healthcare Partners.

* Fintech firm Broadridge Financial Solutions is buying Morningstar's board consulting services business.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.