The so-called Volcker Rule, the section of the Dodd-Frank Act that prohibits proprietary trading and investments in private equity and hedge funds, has experienced a storm of criticism this week, as the comment deadline for the proposed rule closes. Banks have whipped themselves into a frenzy over a complex set of regulations that they say would increase compliance costs substantially, hurt investors, and in general reduce financial market liquidity. Corporate treasurers have joined the chorus. But do those treasurers really think the sky will fall if the Volcker Rule is enacted as is? CFO.com’s Vincent Ryan reported:

Bankers say they stand behind the Volcker Rule’s core principles but truly see the details as the devil. When the American Bankers Association says it will take another 3,000 employees and 6.6 million hours for banks to implement the law and enforcement would require 1.8 million hours per year, on a pure compliance level this rule sounds like a bureaucratic nightmare.

To view the entire CFO.com story, click here.