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. Looking at what community banks have dealt in terms of the confusion associated with regulatory inconsistencies across the federal banking agencies, the Volcker Rule having become one of the most indecipherable. Given the current Rule has over 270 federal register pages and names four different agencies as regulatory authorities, this bill attempts to streamline the regulatory rulemaking and enforcement process. This simple clarification will not only ease the regulatory burden for our local banks, it will enhance capital formation and financing options.