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Fed Begins Move Easing Volcker Rule Restrictions - Portland Press Herald

by pressherald.com posted 7months ago 36 views
Republicans, pressing a deregulatory agenda, back the changes for investment trades made by banks. : WASHINGTON — The Federal Reserve Board on Wednesday took the first step toward loosening the Volcker Rule restrictions on investment trades by large banks as Republicans press forward with a deregulatory agenda sought by Wall Street. The Volcker Rule, mandated by the 2010 Dodd-Frank reforms spurred by the financial crisis, prohibits banks with federally insured deposits from trading for their own profit rather than on behalf of customers. It also limits ownership of risky investments, such as relationships with hedge funds and private equity funds.

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