Like Causes?

Install the App
TRY NOW
Countable Is Officially Causes.com

house Bill H.R. 4790

Simplifying Compliance With the “Volcker Rule” for Banks

Argument in favor

This bill would streamline the regulatory rulemaking and enforcement process for the Volcker Rule by centralizing the rulemaking process with the Federal Reserve and oversight with banking agencies. It would ease the burden on local banks and expand access to capital.

SneakyPete's Opinion
···
04/08/2018
“H.R. 4790 - Volcker Rule Regulatory Harmonization Act” I strongly support the passage of the bill (H.R. 4790 - Volcker Rule Regulatory Harmonization Act) Which would streamline the regulatory rulemaking and enforcement process for the Volcker Rule by centralizing the rulemaking process with the Federal Reserve and oversight with banking agencies. It would ease the burden on local banks and expand access to capital. The Volcker Rule restricts financial institutions insured by the Federal Deposit Insurance Corporation from engaging in certain proprietary trading of securities, derivatives, commodity futures, and options on those instruments. With some exceptions, the rule also prohibits those institutions from owning, sponsoring, or having certain relationships with hedge funds and private equity funds. Rulemaking responsibilities under the Volcker Rule are shared among a group of financial regulatory institutions, including the Board of Governors of the Federal Reserve System. 4*8*18. SEE: https://www.cbo.gov/publication/53712
Like (19)
Follow
Share
Neil's Opinion
···
04/12/2018
In my opinion people with disabilities should have respect, and should be respected. Everyone is equal and all should have an opportunity to change lives. including our own.
Like (6)
Follow
Share
Larry's Opinion
···
04/09/2018
Free up the small local banks and keep an eye on the big ones that are too big to fail.
Like (4)
Follow
Share

Argument opposed

Regulations related to the Volcker Rule should continue to be drafted and overseen by multiple agencies, rather than centralized with the Federal Reserve and specific regulators. It would undermine the Volcker Rule’s effectiveness at preventing excessive speculative activities.

OlderNWiser's Opinion
···
04/08/2018
In my 76 years I have seen Deregulation destroy our economy repeatedly. Is it coincidence that this happens with Republican Administrations? Stop harming the poor for even more profit of the -1%. Please.
Like (146)
Follow
Share
Chickie's Opinion
···
04/12/2018
No, No, No!!!! This bill provides a gapping loophole for banks to cater to the rich. As always, the working class and the poor are left way behind.
Like (67)
Follow
Share
Erin's Opinion
···
04/12/2018
No, because of the words “exclusive rights” and “exemptions.” Did we learn nothing from the previous banking crisis?
Like (31)
Follow
Share

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed April 13th, 2018
    Roll Call Vote 300 Yea / 104 Nay
      house Committees
      Committee on Financial Services
    IntroducedJanuary 12th, 2018
Log in or create an account to see how your Reps voted!

Bill Activity

  • action
    Introduced in House
  • referral
    Referred to the House Committee on Financial Services.
  • action
    Committee Consideration and Mark-up Session Held.
  • calendar
    Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
  • action
    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-621.
  • calendar
    Placed on the Union Calendar, Calendar No. 474.
  • action
    Rules Committee Resolution H. Res. 811 Reported to House. Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
  • action
    Rule H. Res. 811 passed House.
  • action
    Considered under the provisions of rule H. Res. 811.
  • action
    Rule provides for consideration of H.R. 4790 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. Also, the rule provides for motions to suspend the rules relating to H.J. Res. 2 on the legislative day of April 12, 2018.
  • action
    DEBATE - The House proceeded with one hour of debate on H.R. 4790.
  • action
    The previous question was ordered pursuant to the rule.
  • vote
    On passage Passed by the Yeas and Nays: 300 - 104 (Roll no. 139).
  • action
    Motion to reconsider laid on the table Agreed to without objection.
  • referral
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed April 13th, 2018
    Roll Call Vote 300 Yea / 104 Nay
      house Committees
      Committee on Financial Services
    IntroducedJanuary 12th, 2018
Log in or create an account to see how your Reps voted!
    SneakyPete's Opinion In Favor
    ···
    04/08/2018
    “H.R. 4790 - Volcker Rule Regulatory Harmonization Act” I strongly support the passage of the bill (H.R. 4790 - Volcker Rule Regulatory Harmonization Act) Which would streamline the regulatory rulemaking and enforcement process for the Volcker Rule by centralizing the rulemaking process with the Federal Reserve and oversight with banking agencies. It would ease the burden on local banks and expand access to capital. The Volcker Rule restricts financial institutions insured by the Federal Deposit Insurance Corporation from engaging in certain proprietary trading of securities, derivatives, commodity futures, and options on those instruments. With some exceptions, the rule also prohibits those institutions from owning, sponsoring, or having certain relationships with hedge funds and private equity funds. Rulemaking responsibilities under the Volcker Rule are shared among a group of financial regulatory institutions, including the Board of Governors of the Federal Reserve System. 4*8*18. SEE: https://www.cbo.gov/publication/53712
    Like (19)
    Follow
    Share
    OlderNWiser's Opinion Against
    ···
    04/08/2018
    In my 76 years I have seen Deregulation destroy our economy repeatedly. Is it coincidence that this happens with Republican Administrations? Stop harming the poor for even more profit of the -1%. Please.
    Like (146)
    Follow
    Share
    Chickie's Opinion Against
    ···
    04/12/2018
    No, No, No!!!! This bill provides a gapping loophole for banks to cater to the rich. As always, the working class and the poor are left way behind.
    Like (67)
    Follow
    Share
    Erin's Opinion Against
    ···
    04/12/2018
    No, because of the words “exclusive rights” and “exemptions.” Did we learn nothing from the previous banking crisis?
    Like (31)
    Follow
    Share
    BeStrong's Opinion Against
    ···
    04/08/2018
    I am not comfortable turning over complete regulation authority to a single entity, the Fed Reserve. This bill seems not to be focused on simplifying the Volcker process, but could impose a single and likely a partisan oversight authority. This bill has no agreement across the isle.
    Like (19)
    Follow
    Share
    Michael777's Opinion Against
    ···
    04/09/2018
    Instead of deregulating the banks, how about enforcing safety background checks on everyone who purchases a firearm, enact a fair DREAM Act, and end the needless wars we are currently in.
    Like (12)
    Follow
    Share
    Karl's Opinion Against
    ···
    04/12/2018
    Once again politicians selling out our country to the banks
    Like (10)
    Follow
    Share
    Gina's Opinion Against
    ···
    04/12/2018
    Haven’t we learned our lesson.
    Like (7)
    Follow
    Share
    Linda's Opinion Against
    ···
    04/08/2018
    We must stop deregulation because there must be a set standard. That’s regulating to ensure financial sector does the right thing to maintain stability
    Like (7)
    Follow
    Share
    Neil's Opinion In Favor
    ···
    04/12/2018
    In my opinion people with disabilities should have respect, and should be respected. Everyone is equal and all should have an opportunity to change lives. including our own.
    Like (6)
    Follow
    Share
    Christina's Opinion Against
    ···
    04/13/2018
    This bill would undermine the vital regulations that went into place after the financial crisis. The Vlocker rule exists to prevent excessive speculation and loopholes should NOT be created. We have only just recovered from the recession and many industries are still struggling to keep up. The last thing we need is another crash!
    Like (6)
    Follow
    Share
    Pittfancarl's Opinion Against
    ···
    04/12/2018
    Do we really want to experience another great depression?
    Like (6)
    Follow
    Share
    burrkitty's Opinion Against
    ···
    04/08/2018
    Again. DO NOT DEREGULATE THE FINANCIAL INDUSTRY. Will you please learn history already? Deregulation leads to depression.
    Like (5)
    Follow
    Share
    Mary's Opinion Against
    ···
    04/09/2018
    Give banks an inch and they take a mile.
    Like (4)
    Follow
    Share
    Bhuvanesh's Opinion Against
    ···
    04/09/2018
    Local and community banks should continue to be regulated via the Volcker Rule. Clarifying the rules to banks should be a separate piece of legislation.
    Like (4)
    Follow
    Share
    Mary anne's Opinion Against
    ···
    04/12/2018
    No thanks! Nobody wants to go through that shit show again!
    Like (4)
    Follow
    Share
    Larry's Opinion In Favor
    ···
    04/09/2018
    Free up the small local banks and keep an eye on the big ones that are too big to fail.
    Like (4)
    Follow
    Share
    samiam6's Opinion Against
    ···
    04/09/2018
    Stop deregulating banks. The federal government is supposed to protect the citizens, not undermine them.
    Like (4)
    Follow
    Share
    Hiro9's Opinion Against
    ···
    04/12/2018
    The average community bank has about $200M not $10B. I suspect the $10B cutoff is for the benefit of some wealthy donors.
    Like (4)
    Follow
    Share
    YuiYuiMaMa's Opinion Against
    ···
    04/09/2018
    I don't want the current administration to have an easier time of circumventing the spirit of the law. Make them jump through all of the hoops before Walstreet cronies get to go back to playing roulette with peoples retirement money.
    Like (3)
    Follow
    Share
    MORE