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Critics scrutinize plans for revised Volcker Rule

Joe Mont | March 12, 2019

Even a twice-revised Volcker Rule is apparently not bank-friendly enough for the rule’s critics.

A coalition of self-described free-market groups is among those urging regulators to reconsider their efforts to revise the rule. The coalition’s letter, signed by 13 groups and made public this week, asks that recently proposed revisions be further reconsidered to exclude banks with $10 billion or less in total consolidated asset and banks of all sizes that engage in limited asset trading.

“The Volcker Rule was a flawed and unnecessary response to the financial crisis. It has imposed substantial burdens on industry, predicted to be as high as $4 billion in regulatory costs, while damaging financial market liquidity, raising the cost of credit for businesses and consumers,” the letter says.

Signatories included: Competitive Enterprise Institute, American Commitment,...

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