House GOP Wants 2-Year Volcker Implementation Delay

Law360, New York (November 29, 2012, 5:31 PM EST) -- The outgoing and incoming chairmen of the House Financial Services Committee on Thursday urged federal financial regulators to give banks a full two years before they have to comply with the delayed Dodd-Frank Act ban on proprietary trading.

Amid reports that the five regulatory agencies that are working on the so-called Volcker Rule have been unable to agree on a single, unified rule, Rep. Jeb Hensarling, R-Texas, and Rep. Spencer Bachus, R-Ala., said banks should be given a full two years to comply with the rule...
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