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The final rule was issued recently after a period of public comment.
Environmentalists said they worried that the Bush administration might still try to delay or weaken the plan before a final rule was issued.
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He added, "The O.C.C. is likely to update the analysis when a final rule is issued".
The public will have 60 days to comment on it before a final rule is issued.
Under the Congressional Review Act (CRA), congress has 60 working days after a final rule is issued to review it, and send a "joint resolution of disapproval" to the president.
"But this rule is only a proposal -- workers exposed to silica dust will only be protected when a final rule is issued.
The department's proposed rules are still being drafted, and businesses will have a chance to respond before any final rules are issued.
There is a good chance that most of the remaining differences between the rules will be eliminated before final rules are issued.
Banks have until February to comment on the proposals before final rules are issued jointly by the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.
The 2016 Rule was issued in the final year of David Michaels' tenure as assistant secretary of labor for OSHA under President Obama's administration.
Even Mr. Dimon had to admit Thursday's disclosure was a setback for JPMorgan and other banks that want more flexibility when the final version of the Volcker Rule is issued.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com