Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions.
Banks technically relieved of the “systemically important” label in last spring’s legislative package are lobbying regulators hard over concerns that they could still face tough standards.
The senator wants the Fed to retain its asset cap on Wells Fargo until the CEO is fired; industry groups call on regulators to reconsider or scrap plans to modify Volcker Rule.
Sen. Elizabeth Warren is opening a new front in a campaign against a familiar foe — demanding that the Federal Reserve keep its restrictions on Wells Fargo until Chief Executive Officer Tim Sloan is removed.
President Donald Trump said he won't fire Federal Reserve Chairman Jerome Powell but blamed an "out of control" U.S. central bank for the worst stock market sell-off since February.
The Federal Reserve System is trying to be proactive in these and other high-profile areas, offering educational materials and coaching to bank execs and directors, according to supervision officials at the St. Louis and Richmond Fed banks.
Big banks are expected to report that commercial lending weakened in the third quarter thanks to tax cuts, nonbank competition and seasonal factors. It raises questions about whether the second-quarter rally was an anomaly and if an overall economic slowdown is edging closer.
