Regulators approve Volcker Rule after years of deliberation

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It probably wasn’t exactly what Paul Volcker had in mind four years ago when he suggested that banks that enjoyed federal deposit insurance not stray far from traditional commercial banking activities, but here we are after 2,000 pages of Dodd-Frank, 17,000-plus comment letters on the first attempt at a proposed rule, and the collective input.

Regulators Approve Rule To Rein In Banks’ Risky Trades. December 10, 2013 The Volcker rule, a key part of the 2010 dodd-frank financial law, prevents banks from using government-insured money to make speculative bets.

Back in 2013, as part of the Dodd-Frank Act, regulators including the. Insurance Corp. approved of the final rule after years of deliberation.

Prudential financial regulators approved the final Volcker Rule Tuesday, creating a new regulatory construct that essentially imposes limits on large banks engaged in proprietary investment activities.

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Regulators move to approve Volcker Rule for banks after three-year wait.. the measure has been at the rule-writing stage for three years, after being included in the 2010 Dodd-Frank law.

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The Volcker rule, mandated by the 2010 Dodd-Frank reforms spurred by. in 2013 after regulators from five agencies spent three years crafting them.. A repeal would require congressional approval, which is unlikely given.

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After years of deliberation, the rule was met with praise from regulators who ushered in the era of mass banking reform. Sen. Banking Committee Chairman Tim Johnson, D-S.D., released the following.

The Financial Regulatory Reform Initiative (FRRI) is co-chaired by. years since the Volcker Rule was enacted, and final regulations have yet to be issued. The. approved by the Senate Banking Committee. Another precedent for a gradual and deliberate implementation of a complex new regulatory.