Posted August, 3 2017On Aug. 2, 2017, the Office of the Comptroller of the Currency (OCC) published a notice that solicits public input on whether certain aspects of the implementing the Volker Rule regulation should be revised to in order to decrease the compliance burden on banking entities and fostering economic growth. In particular, the OCC invites input on ways to tailor the rule’s requirements and clarify key provisions that define prohibited and permissible activities. The agency also seeks input on how the federal regulatory agencies could implement the existing rule more effectively without revising the regulation. The public is invited to provide supporting data that can inform specific changes to the regulation, and help assess the effectiveness of implementation efforts to date.
This has been a common theme in recent confirmation hearings on Capitol Hill. NACHA expects other federal agencies to seek input during 2017.