Republicans move toward easing bank and Wall Street rules
"Republicans in the House have been trying for years to chip away at the Dodd-Frank law, which Congress enacted with mostly Democratic support to tighten regulation with an eye to preventing another crisis."
Their latest move (which is likely to pass) will give U.S. banks two extra years (until 2019; perhaps because the banks don't have enough money to get in compliance quickly enough lol) to ensure that their holdings of certain complex and risky securities don't put them out of compliance with a new banking rule. It would also revise the "Volcker rule" which would limit banks' riskiest trading bets, the kind of speculative investments that do not benefit their customers.

src: http://hosted.ap.org/dynamic/stories/U/US_HOUSE_BANK_REGULATIONS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

Dodd-Frank: http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act

Volker Rule: http://en.wikipedia.org/wiki/Volcker_Rule

#DoddFrank   #Wednesday   #WallStreet  
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