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RSS FeedsStatement of Commissioner Allison Herren Lee on Amendments to the Volcker Rule
(WorldNews Health)

 
 

20 september 2019 02:40:47

 
Statement of Commissioner Allison Herren Lee on Amendments to the Volcker Rule
(WorldNews Health)
 


The Volcker Rule is intended to prevent banks from gambling with taxpayer money.[2] Mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, and adopted in 2013, the rule prohibits proprietary trading and fund investments by taxpayer-backed banks and their affiliates.[3] This is a straightforward and sensible proposition born of both common sense and painful experience.[4] Most purport to agree with this sensible proposition. Unfortunately, as with so many rules affecting financial institutions, `the devil is in the details.` This idiom is tailor-made for the final rule amendment adopted yesterday by a majority of the Commission, the details of which seriously undercut the...


 
9 viewsCategory: Science > Medicine
 
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