Fed chair says post-crisis financial reforms have strengthened the banking system and the economy; consumers again comfortable borrowing against their home equity.
Bank earnings rose nearly 11% in the second quarter, according to the FDIC; Goldman lobbying to kill or weaken the rule to boost its bond trading performance.
The Dodd-Frank Act’s Volcker Rule was meant to protect the financial system, but it is also stopping community banks from investing in funds focusing on fintech.
The OCC's move to solicit feedback on rolling back the Volcker Rule was only the first step in a long process, yet observers say it shows how fractured the five agencies tasked with implementing the proprietary trading ban have become.
The bank agreed to pay $4.6 million to settle charges it didn't tell consumers why their checking account applications were rejected; Winklevoss brothers to supply bitcoin data to Chicago exchange.
The regulatory agency is expected to start asking for public feedback on changing the rule on proprietary trading by banks; bitcoin offshoot is worth about a tenth of the original.
Regulators have near consensus that parts of the Volcker rule need to change. But it's not clear whether the fixes being contemplated will have a big impact.
Outside counsel for Wells Fargo accidently sends files on wealthy customers to opposing lawyer in defamation case; White House wants agency’s consumer complaint database to be private.
