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OCC cracks open Volcker rule, seeks public comment

Joe Mont | August 2, 2017

The potential deconstruction of the Volcker rule is now in high gear.

Although any deliberations took place behind closed doors, the Financial Stability Oversight Committee placed debate about the rule, a Dodd-Franck Act ban on proprietary trading by federally insured banks, on its latest agenda. Now, with an even more substantial move, the acting Comptroller of the Currency is opening a public comment period that seeks proposed changes to the rule.

On August 2, the agency sent a notice for publication to the Federal Register that solicits public input on whether certain aspects of the implementing regulation should be revised to better accomplish the purposes of section 619 of the Dodd-Frank Act while “decreasing the compliance burden on banking entities and fostering economic growth.”

Specifically, the OCC invites input on ways to tailor the rule’s requirements...

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