US regulators hand Wall Street a big win with stripped-down Volcker rule
20 August 2019 - 22:03
Washington — US banking regulators on Tuesday approved changes easing a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account, giving Wall Street one of its biggest wins under the Trump administration.
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) approved the revamped version of the so-called Volcker rule, which aims to ban lenders that accept US taxpayer-insured deposits from engaging in proprietary trading...
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