In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.
The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.
The Wall Street bank to shed 1,500 spots ahead of an uncertain 2020; smaller and regional banks are lagging behind but expect to increase their focus next year
Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.
The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.
