Congressional Recipients of
Contributions from the Financial Services Sector Swamp Agencies With Requests
To Weaken the Volcker Rule
March 27, 2011 — This is the third installment of our "Two
Cents" series, in which we document the efforts of special interests to
influence the rules that will determine the success or failure of the Dodd-Frank Wall
Street Reform and Consumer Protection Act of 2010. This report documents
Congress’s efforts on behalf of industry regarding the Volcker Rule, which was
one of the most important reforms in Dodd-Frank.
The rule prohibits
banks from engaging in a variety of high-risk activities and from taking
actions that conflict with the interests of their customers. Members of
Congress who submitted comments asking federal agencies to weaken the Volcker
Rule have received an average of more than four times as much in campaign
contributions from the financial sector since 2010 as those who asked agencies
to strengthen the rule.