News Release 2014-14 | February 5, 2014
Comptroller of the Currency Testifies on the Volcker Rule
WASHINGTON—Comptroller of the Currency Thomas J. Curry discussed the Volcker Rule in testimony today before the House Committee on Financial Services.
Mr. Curry told the committee that, throughout the process, the OCC had worked to minimize burden on community banks. "The rule will require significant change at large banks that engage in activities covered by the rule," Mr. Curry said, "but most of those institutions have been preparing for the changes required by the law since the legislation took effect in 2012." Mr. Curry also told the panel that he was mindful of the need for consistency in the law's implementation, and said the OCC had led formation of a working group to collaborate on issues that arise under the final rule.