Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

interestrateripoff

U.s. Bank Group Launches Volcker Rule Legal Challenge

Recommended Posts

http://uk.reuters.com/article/2013/12/23/uk-volcker-bankers-lawsuit-idUKBRE9BM0TU20131223

The American Bankers Association on Monday initiated a legal challenge to a provision of the "Volcker rule" that restricts bank ownership of certain investments.

The group filed a petition for review in the U.S. Court of Appeals for the District of Columbia Circuit, according to court papers.

The court filing, the first legal challenge to the Volcker rule, says the provision in question is, among other things, "arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law."

CB&T Bancshares Inc and its Citizens Bank and Trust Co subsidiary also signed on to the court filing, as did MBT Financial Corp (MBTF.O) and its Monroe Bank and Trust Co subsidiary.

Earlier in the day, Frank Keating, the chief executive of the ABA, wrote in a letter to regulators that the group would file a challenge seeking emergency relief.

The bankers going to court, I'm sure they'll have plenty of public support.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   224 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.