Public Comment by April 1 2020 needed to keep the Volcker Rule in place

Bankers are trying to destroy the Volcker Rule

Public Comment by April 1 2020 needed to keep the Volcker Rule in place

READ: Federal Reserve proposes loosening rules on bank investments

WASHINGTON (AP) — The Federal Reserve approved a proposal Thursday to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds.

The proposal would affect the so-called “Volcker Rule,” which was created after the 2008 financial meltdown.  The staff memo to the Board will be made available to attendees on the day of the meeting in paper and the background material will be made available on a compact disc (CD). If you require a paper copy of the entire document, please call Penelope Beattie on 202-452-3982. The documentation will not be available until about 20 minutes before the start of the meeting.

The proposal was drafted jointly with four other regulatory agencies and will be open to public comment until April 1.

https://apnews.com/aed534c141d5939eff18cea5521967f2

#VolckerRule “Volcker Rule,” open to public comment until April 1, 2020

Agencies propose changes to modify Volcker rule “covered funds” restrictions

Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue N.W., Washington, DC 20551
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200130b.htm

Tell them you want to keep the Volcker rule in place. Protect us from the banks who brought the world market down in 2008.

The Federal Reserve approved a proposal Thursday to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds.

HOW TO SUBMIT YOUR COMMENTS

Thanks to Pam Martens Wall Street on Parade

This is the document that was released regarding how to file a public comment on the proposal. Unfortunately, because it says they are delaying filing the proposal in the Federal Register, it would seem that the RIN # to submit with your comment is not available.
Submit it under the Title that they provide and then check to see if it appears at the link for public comments.
Or email the email address provided in the document at the respective Federal agency and ask for the RIN # and refile; then check to be sure it got listed in public comments.

Request for Comment on the Volcker Rule

The final rule implementing section 13 of the Bank Holding Company Act (commonly referred to as the “Volcker… The OCC is not requesting comment on changes to the underlying Volcker statute.

https://beta.regulations.gov/docket/FSOC-2010-0002

https://www.federalreserve.gov/aboutthefed/boardmeetings/files/volcker-rule-fr-notice-20200130.pdf

You may submit comments, identified by [RIN] by any of the following methods:
Agency website: https://www.FDIC.gov/regulations/laws/federal/propose.html. Follow instructions for submitting comments on the Agency website.
Mail: Robert E. Feldman, Executive Secretary, Attention: Comments/Legal ESS, Federal Deposit Insurance Corporation, 550 17th Street, NW, Washington, DC 20429.
Go to https://beta.regulations.gov/ or click “Visit New Regulations.gov Site” from the Regulations.gov Classic homepage.
Enter “Docket ID OCC-[-[____]” in the Search Box and click “Search.”Click on the “Comments” tab.
Comments can be viewed and filtered by clicking on the “Sort By” drop-down on the right side of the screen or the “Refine Results” options on the left side of the screen.
Supporting materials can be viewed by clicking on the “Documents” tab and filtered by clicking on the “Sort By” drop-down on the right side of the screen or the “Refine Results” options on the left side of the screen.”

For assistance with the Regulations.gov Beta site, please call
(877) 378-5457 (toll free) or (703) 454-9859
Monday-Friday, 9am-5pm ET or e-mail regulations@erulemakinghelpdesk.com
Keyword(s) Volcker; Volcker Rule; FSOC

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Bankers are trying to destroy the Volcker Rule

 

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