Conference Committee Update

    View Author 25 June 2010

    Early this morning, the House/Senate conference committee completed its work on financial regulatory reform legislation, approving the reconciled legislation by a party line vote of 27 to 16.  This achievement came after conferees reached a compromise on the most contentious provisions in the legislation – the “Volcker Rule,” which limits banks from engaging in proprietary trading, Senate Agriculture Committee Chairwoman Blanche Lincoln’s (D-AR) proposal to spin off banks’ swaps desks, and new rules to regulate the over-the-counter derivatives market.