Print

CBAI Urges Community Bank Exemption to the Volcker Rule

In a September 21, 2017 comment letter to the Office of the Comptroller of the Currency (OCC), the Community Bankers Association of Illinois (CBAI) urged the agencies to completely exempt community banks from the Volcker Rule. CBAI appreciated the OCC’s statement that there is broad recognition that the final Volcker Rule should be improved both in design and application, and that many [including the U.S. Department of the Treasury] have argued that the final rule is overly complex and vague. CBAI stated that the community bank business model does not include the risky practices now prohibited by the Volcker Rule; it was the risky behavior of the largest banks and financial firms that led to the financial crisis; and a complete exemption for community banks is justified. Read Comment Letter.