Congressman French Hill Statement Passage of Legislation to Ease Regulatory Burden for Arkansas Banks

WASHINGTON – Today, Congressman French Hill (AR-02) issued the following statement after the House passed his bill, the Volcker Rule Regulatory Harmonization Act of 2018, by a bipartisan vote of 300-104:

“As a former Arkansas community banker, I dealt with countless regulatory inconsistencies across federal banking agencies. The Volcker Rule has been one of the most indecipherable with its 930 pages and frequently five different regulatory interpretations. I appreciate my colleagues in the House supporting my commonsense bill to harmonize the regulatory rule interpretation process and ease the compliance burden for our community banks lending in our local economies. This bill also will help Arkansas families, businesses and public finance issuers by improving our capital markets.”