Volcker Rule Draws Fire From Range Of Nonbank Cos.

Law360, New York (February 15, 2012, 8:12 PM EST) -- More than 25 companies and organizations in industries ranging from health care to industrial machinery attacked the controversial, bank-restricting Volcker Rule provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act in a letter released Wednesday.

In a letter dated Feb. 14, the U.S. Chamber of Commerce joined 26 companies in a wide variety of industries who asked regulators to reconsider the rule, which would prevent banks from trading on their own behalf while doing business for clients.

Although banks have provided some of the...
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