Lawmakers and execs seek CLO tweak to Volcker rule

Lawmakers and industry executives are encouraging regulators to consider another change, this one involving collateralized loan obligations, to the Volcker rule. SIFMA President and CEO Kenneth Bentsen said that if banks were required to divest their CLO holdings, it would "affect the cost of credit to Main Street businesses that benefit from that market." Industry experts raised a variety of concerns about the Volcker rule and its consequences in testimony before the House Committee on Financial Services.

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