In a December 7 letter to the Fed, SEC, CFTC, OCC, and FDIC, House Financial Services Committee Chair Spencer Bachus (R-ALA) requested that the comment period for the proposed regulations implementing the Dodd-Frank Volcker Rule be extended for at least 30 days to accommodate a January 18, 2012 Financial Services Committee hearing. At present, the comment period for the regulations expires on January 13, 2012. Senator Bachus's letter claims the proposed regulations go too far, and that the proposals "are not clear and need much work."