Removing Volcker for smaller banks will reduce compliance costs

Author: John Crabb | Published: 8 Feb 2018

Exempting banks with less than $10 billion in assets from the Volcker rule could remove significant compliance costs and burdens for community banks and credit unions, sources suggest.

The provision is one of the suggestions contained within the bi-partisan S.2155 Economic Growth, Regulatory Relief and Consumer Protection Act. Led by Mike Crapo, the Senate Banking Committee compiled a bill addressing some of the more pressing issues of US banking regulation, and in doing so is seeking to undo some of the protections put in place by the Dodd-Frank Act in 2010. 

Is the Volcker rule is an unnecessary burden?The rule has been the centre of much debate since it was originally enacted, and giving total exemption to institutions of this size has been one of the measures most widely sought by its adversaries. "Volcker is one of these rules that imposes tremendous compliance costs on institutions, I mean...


 

 

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