Bank Watchdogs To Explore Volcker Exemption After ABA Suit

Law360, Washington (January 2, 2014, 5:58 PM EST) -- Federal financial regulators announced last week that they will consider exempting certain “trust-preferred” collateralized debt obligations from the so-called Volcker Rule, the Dodd-Frank Act's ban on proprietary trading by banks, after the industry sued over the CDOs’ inclusion in the rule.

According to a joint statement issued Dec. 27 by the Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and the Securities and Exchange Commission, the agencies will review whether it is “appropriate and consistent with ... Dodd-Frank” to place CDOs...
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