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Volcker

Elizabeth Warren: Wall Street Just Got Another Giveaway

"The Volcker rule ensures that financial institutions don't engage in something called proprietary trading, which is when a bank trades for its own benefit as opposed to for the benefit of its customers. Banks were supposed to comply with the Volcker rule by July 21, 2014. Last year, when banking watchdogs finalized the rule, the Fed granted banks a year-long extension. The Fed's Thursday announcement gives banks another year to get rid of certain investments—including those in private equity firms and hedge funds.

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