Dear Friend,

During the COVID-19 pandemic, independent news is more important than ever. You turn to Democracy Now! because you trust that when we're reporting on this global crisis, our coverage is not brought to you by the fossil fuel, insurance or weapons industries or Big Pharma. We're bringing you stories from the front lines, and voices you simply won't hear anywhere else—but we’re counting on you to make it possible. Today, a generous supporter will DOUBLE your donation to Democracy Now!, meaning your gift goes twice as far. This is a challenging time for us all, but if you're able to support Democracy Now! with a donation, please do so today. Stay safe, and thank you so much.
-Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

Financial Regulators Slated to Roll Back Volcker Rule

HeadlineMay 22, 2018

In financial news, the Federal Reserve and banking regulators are slated to roll back the Volcker Rule, a key financial regulation enacted after the 2008 financial crisis. The rule bars banks from using customers’ deposits to make the bank’s own risky bets. It was one of the key aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act and was named after former Federal Reserve Chair Paul Volcker. Watering down the rule would allow Wall Street’s giant banks to again engage in a wide range of risky trading, using customers’ own money. Meanwhile, on Monday, President Trump nullified rules aimed at preventing discrimination in auto lending. And today the House is slated to vote on legislation that would roll back other parts of the Dodd-Frank Act for thousands of smaller to midsized banks.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top