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February 08, 2019

A proposal by the FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency, the SEC and the CFTC to exclude certain community banks from the Volcker Rule was published in the Federal Register. Comments must be submitted by March 11, 2019. As previously covered, pursuant to Section 203 of the Economic Growth, Regulatory Relief and Consumer Protection Act ("EGRRCPA"), the proposal would exclude a community bank from the restrictions of the Volcker Rule if both of the following conditions are met: (i) it has total consolidated assets equal to or less than $10 billion, and