Monday, December 23, 2013
ABA Requests Suspension of TruPS Provision, Threatens Lawsuit
This afternoon, ABA President and CEO Frank Keating wrote to the heads of the Federal Reserve, FDIC and OCC asking that they suspend provisions in the Volcker Rule prohibiting banks from holding debt interests in trust preferred securities. Keating declared ABA’s intention to challenge the provisions in court if the agencies do not act. To read Keating’s letter to Bernanke, Gruenberg and Curry, click here.