This overtook efforts by the Fed and other regulatory agencies to refine the Volcker rule, but the bottom line is that this broad exemption is law and in the process of being implemented. Another change in the new legislation raises the asset threshold for bank holding companies eligible for the Small Bank Holding Company Policy Statement from $ billion to $ billion.
However, one has to be careful of the fact that financial sector can be especially vulnerable to either too little or too much exposure to technology – due to these inherent risks, we need parallel development of human resource and infrastructure along with regulations and methods for evaluation. Institutions need to develop, retain and tap into promising talents within the sector.