The FDIC and the OCC today approved a long-awaited set of changes to the Volcker Rule simplifying the rule’s compliance burden and better targeting its effects toward indented activities.
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A group of 13 Republicans on the Senate Banking Committee today urged the federal banking agencies to accelerate implementation of regulatory reforms made by the S. 2155 reform law, as well as other reforms that they said would enhance economic growth.
The federal banking agencies announced today that they would defer for an additional two years action related to restrictions for certain foreign funds that may have been unintentionally covered under the Volcker Rule.
The five federal financial regulatory agencies today finalized a rule implementing a section of the S. 2155 regulatory reform law that grants an exclusion from the Volcker Rule for certain community banks.
Noting that “the agencies still have work to do” to reform the Volcker Rule, FDIC Chairman Jelena McWilliams today emphasized that greater clarity is needed about which activities are covered by the rule.
In a comment letter to the financial regulatory agencies today, the American Bankers Association offered feedback on a recent joint proposal to harmonize the Volcker Rule regulations with the S. 2155 law.
The financial regulatory agencies today issued a proposed rule to implement a section of the S. 2155 regulatory reform law that grants an exemption from the Volcker Rule for community banks.
Led by Senate Banking Committee Chairman Mike Crapo (R-Idaho), seven Republican senators today endorsed efforts to revisit the Volcker Rule and urged the agencies to go beyond their proposed policy changes in making fixes to the complex rule.