Federal banking agencies ease Volcker Rule restrictions

Automatic TRANSCRIPT

The federal reserve and for other banking regulatory agencies have finalized a rule easing restrictions that keep banks from investing in areas such as hedge funds the regulations are known as the Volcker rule passed by Congress in twenty ten it was part of an overhaul of banking regulation aimed at curbing excesses that led to the two thousand eight financial crisis he generally prohibited banks from engaging in proprietary trading and from acquiring ownership interests in hedge funds and private equity funds president trump campaigned in twenty sixteen on rolling back what he saw as over regulation of the banks arguing it weighed on the economy by preventing them from making loans to qualified borrowers the fed's announcement gave an immediate boost to bank stocks Ben Thomas Washington

Coming up next