HR 4049
114th Congress
House
Finance and Financial Sector
Banking and financial institutions regulation
Securities
Volcker Rule Relief Act of 2105
Introduced: November 17, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 17, 2015
Referred to the House Committee on Financial Services.
Nov 17, 2015
Introduced in House
Plain-English summary
Volcker Rule Relief Act of 2015
This bill amends the Bank Holding Company Act of 1956 with respect to the prohibition ("Volcker Rule") against a banking entity's: (1) engaging in proprietary trading; or (2) acquiring or retaining any equity, partnership, or other ownership interest in, or sponsoring, hedge funds or private equity funds.
"Banking entity" shall not include (and so the Volcker Rule shall not apply to) any entity that:
- is not predominantly engaged in financial activities, nor is a bank holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System, nor a direct or indirect subsidiary of a bank holding company or a nonbank financial company supervised by the Board; or
- would be a banking entity solely owing to its control of such an entity.
The bill also exempts from the Volcker Rule any banking entity with total consolidated assets of $10 billion or less.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1