U.S. banking regulators on Tuesday approved changes easing a rule introduced aft...
The new rule gives banks more leeway in terms of trading activity, and simplifies how banks can tell if that trading is permitted by law.
“Trump regulators continue to open a Pandora’s box of risky trading and speculation at the expense of American taxpayers,” Senator Sherrod Brown, the top Democrat on the Senate Banking Committee, said in a statement. That proposed “accounting test” was meant to replace a more subjective test that aimed to identify whether a trader intended a trade to be speculative. But banks argued it could apply to a host of additional financial instruments not meant to be covered by the rule.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FDIC approves tweak of Volcker Rule, easing trading regulations for Wall Street banksThe FDIC on Tuesday voted to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.
Read more »
Fashion’s IPOs: Who Wins on Wall Street?A flurry of offerings over the past year has five new(ish) names vying for attention, but who has the right business model to endure?
Read more »
Wall Street rallies on hopes of global economic stimulusU.S. stocks climbed on Monday as reports of stimulus efforts in China and German...
Read more »
Dow rallies more than 200 points as Wall Street continues rebound from August sell-offAll 3 major U.S. indices climbed today as Treasury yields rebounded, quelling fears of a looming recession. Equities also got a boost after the U.S. agreed to temporarily soften policy against Huawei. The Dow rose 0.96% as the S&P jumped 1.21%.
Read more »
The Best Street Style from Copenhagen Fashion Week Spring/Summer 2020Inspiration for your end of Summer into early Fall looks.
Read more »
Kellyanne Conway invokes 'Sesame Street' to ridicule the media over recession fearsThe president, who campaigned on his ability to improve the economy and has sought to take credit for the economic successes, is positioning himself to avoid blame for any possible downturn.
Read more »