Trump: prospects for Volcker

Author: Edward Price | Published: 14 Nov 2016

The nascent Donald Trump revolution has set its sights on many things – among them the repeal of the 2010 Dodd-Frank Act. While shedding the entire law won’t be easy, and so isn’t to be expected, one obvious target has already been identified: the Volcker Rule.

The Volcker Rule, named after former Federal Reserve chairman Paul Volcker, was stitched into president Barack Obama’s bumper Wall Street Reform and Consumer Protection Act in 2010. The text of the final rule itself is unwieldy although its primary aim is clear: ban proprietary trading by banks. The post-crisis notion was that such activity did, or could, contribute to financial instability although many will be quick to point out that it had nothing to do with the 2008 financial crisis. 

The V here doesn't stand for Volcker Banks have thus long-complained that the rule is unnecessary. And it is in...


 

 

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