Two leading Republican representatives in the U.S. House want the Volcker rule banning U.S. banks from proprietary trading to be delayed for two years, according to writer Cheyenne Hopkins with Bloomberg.
Rep. Spencer Bachus, R-Ala., and Jeb Hensarling, R-Texas, reportedly sent a letter to regulators asking them to delay the rule’s effective date for two years after the final release of the regulation.
The two Congressmen are concerned about a general lack of transparency about the rule and the uncertainty that is plaguing many financial firms in today’s environment.
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