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In Victory for Big Banks, Federal Reserve Votes to Loosen Volcker Rule

HeadlineMay 31, 2018

The Federal Reserve has voted to loosen the Volcker Rule, a key financial regulation enacted after the 2008 financial crisis. The rule bars banks from using customers’ deposits to make the banks’ own risky bets. It was one of the key aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This comes as banks are taking in record profits — $56 billion during the first three months of this year.

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