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Federal Reserve Board

Will Banks Use Extra Compliance Time to Kill the Volcker Rule?

"WASHINGTON — The Federal Reserve Board's recent delay of the Volcker Rule compliance deadline is sparking concern among critics that the move sets the stage for yet another congressional battle to weaken the Dodd-Frank Act.

"The central bank announced last month that institutions — challenged by the difficulty of divesting holdings in time — will get another two years, to 2017, to unwind private equity and hedge fund investments outlawed by the Dodd-Frank provision.