Volcker Expected to Testify on White House’s ‘Volcker Rule’ in Senate on Feb. 2
The Senate Banking Committee is expected to have a hearing Tuesday, Feb. 2, to hear from former Federal Reserve Chairman Paul Volcker about the White House?s recent proposal to limit the size and risk of huge U.S. banks.
The White House announced the new plot last week and is mission part of it the ?Volcker Rule,? but they haven?t provided many details about how just so the new limits would work. The plot would make it harder for huge banks to grow and would also prohibit companies with federally insured deposits from certain trading activities.
The hearing is part of an effort by lawmakers on the panel to come up with a bipartisan plot to overhaul financial regulation.
Final details of the hearing haven?t been nailed down, such as whether other witnesses will attend.