Congressman Gonzalez Reacts to Financial Regulators Excluding Independent and Community Banks from Volcker Rule

WASHINGTON –Today, Congressman Vicente Gonzalez (TX-15) issued a statement in response to federal financial agencies excluding independent and community banks from the Volcker rule:

"U.S. financial regulators took a very important step today in excluding banks with less than $10 billion in assets from the Volcker rule," Congressman Vicente Gonzalez said, "I applaud the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Commodity Futures Trading Commission and the Securities and Exchange Commission for recognizing the regulatory burden on our independent and community bankers and working together to right size this key regulation that will make banking more accessible and convenient. Independent and community banks are the cornerstone of our communities, and this decision today recognizes their appeals for help."