Banking Group Calls For Volcker Rule Rewrite In Congress

Law360, New York (September 10, 2012, 1:54 PM EDT) -- A banking industry group on Monday said that federal regulators' inability to complete a final version of the Volcker Rule, the Dodd-Frank Act's ban on proprietary trading, was a sign that Congress should either repeal or streamline the hotly contested provision.

In a letter to House Financial Services Committee Chairman Spencer Bachus, R-Ala., the American Bankers Association said that if Congress is unable to fully repeal the Volcker Rule, then it should rewrite it so that regulators and banks have a clearer picture of what will...
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