The committee announced it will solicit public input on how lawmakers should rewrite the Volcker Rule, warning the existing requirement could have a "devastating" impact on the economy. Bachus said lawmakers are exploring "legislative alternatives."
If regulators implement the Volcker Rule in its current form, the repercussions will be devastating to our economy. It will undermine our nation’s ability to compete and make it harder for Main Street businesses to raise capital so they can grow and create jobs.The committee will be accepting comments until September 7—when a hearing will be scheduled on legislative overhaul.
The committee has established an email address to gather suggestions and alternatives to the Volcker Rule—email@example.com.
Read the full article on the ABA RegPolicy twitter feed on the right of the ABA Dodd-Frank Tracker page.