Today the conference committee is considering the “Volcker Rule” to ensure that banks do not make risky proprietary bets with taxpayer-backed deposit funds, or invest in risky  private equity or hedge funds.

Conferees should support the Merkley Levin language to make this change statutory,  and not subject to regulators’ modifications.  They should also protect the bill from other weakening exceptions, and oppose the “Scott Brown Carve Out” allowing banks to invest in risky funds.