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Sen. Warren

Banks win Fed extension on Volcker Rule provision

“The Federal Reserve extended by two years the time that big banks have to comply with a new rule that requires them to dispose of investments in hedge funds, private equity firms and other risky operations.”

“The provision is part of the so-called Volcker Rule, embedded in the 2010 Dodd-Frank banking reform law and designed to seal off risky bank assets and operations from deposits insured by taxpayers.”