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.

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
Up arrowTop