Volcker Rule Regulatory Harmonization Act
Sponsor: J. Hill (R-AR)
(Sec. 2) This bill amends the Bank Holding Company Act of 1956 to grant exclusive rulemaking authority under the Volcker Rule to the Federal Reserve Board. (Currently, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission also have regulatory authority under the Volcker Rule. The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.) (Sec. 4) The bill exempts from the Volcker Rule banks with total assets: (1) of $10 billion or less, and (2) comprised of 5% or less of trading assets and liabilities.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 7.1% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 300 | 68.8% |
| Nay | Lost | 104 | 24.1% |
| Not represented on this question | No position taken | 0 | 7.1% |