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Fed’s Delay of Parts of Volcker Rule Is Another Victory for Banks

"The banks may now press to hold onto investments in some of their funds until 2022, since Dodd-Frank envisions an extra five-year extension for funds that are “illiquid,” the financial term for something that is hard to sell quickly."
"Consumer advocates are disappointed with the delay until 2017. They said that they did not accept the Fed’s argument that markets could be roiled if the banks had to sell their fund investments by July 2015."