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.
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
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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.
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04/09/2018
Free up the small local banks and keep an eye on the big ones that are too big to fail.
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.
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.
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.
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04/12/2018
No, because of the words “exclusive rights” and “exemptions.” Did we learn nothing from the previous banking crisis?
“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
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.
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.
No, because of the words “exclusive rights” and “exemptions.” Did we learn nothing from the previous banking crisis?
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.
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.
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
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.
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!
Do we really want to experience another great depression?
Again. DO NOT DEREGULATE THE FINANCIAL INDUSTRY. Will you please learn history already? Deregulation leads to depression.
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.
No thanks! Nobody wants to go through that shit show again!
Free up the small local banks and keep an eye on the big ones that are too big to fail.
Stop deregulating banks. The federal government is supposed to protect the citizens, not undermine them.
The average community bank has about $200M not $10B. I suspect the $10B cutoff is for the benefit of some wealthy donors.
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.