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Financial regulators finalized a rule modifying the Volcker Rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds.
The rule, which takes effect Oct. 1, addresses compliance uncertainty by streamlining the rule and addressing the treatment of certain foreign funds. An ICBA-advocated provision of the S. 2155 regulatory relief law exempts most community banks from the Volcker Rule.
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The Independent Community Bankers of America appreciates this opportunity to comment on the re-submission by Rakuten Card Co., Ltd. (Rakuten Card Japan) a subsidiary of Rakuten, Inc., of an application for federal deposit insurance with the Federal Deposit Insurance Corporation to insure the deposits of Rakuten Bank America (Rakuten Bank), an industrial bank or “ILC” to be chartered under Utah law.
ImageJun 25, 2020
Jun 25, 2020
As Congress considers the next legislative package to address the economic fallout from the COVID-19 pandemic, ICBA weighed in with recommendations to support local communities.
ImageJun 25, 2020
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