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McHenry Applauds Volcker Rule Decision


McHenry Applauds Volcker Rule Decision




Washington,
August 20, 2019 

WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Federal Deposit Insurance Corporation’s (FDIC) vote to amend the Volcker rule:

“I have long advocated for reasonable reform of the Volcker rule—a rule that former Chairman Volcker himself has referred to as being too complicated—and applaud today’s decision by the federal financial regulators. This proposal maintains prohibitions on proprietary trading, but also ensures financial institutions have the ability to make markets. Today’s vote by the FDIC is an important step toward simplifying and clarifying this rule.”

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