Hensarling Criticizes Final Volcker Rule
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) criticized the approval of the final Volcker Rule on Tuesday by federal regulators.
“The Volcker Rule is just the latest example of Washington’s regulatory overkill that ends up hurting more than it helps. My constituents in East Texas didn’t cause the financial crisis, yet the Public Utility Commission of Texas warned that the Volcker Rule will result in higher electricity prices. Teachers didn’t cause the financial crisis, yet TIAA-CREF warned that the Volcker Rule will hurt their pension funds,” Hensarling said in a statement on Tuesday.