Reports Volcker Rule May Not Move Forward In Senate
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According to reports from dealReporter, the Volcker Rule that will limit proprietary trading for the nation's largest banks, will either be dropped or significantly modified in the Senate, citing lawmakers and staffers.
Key Republican Richard Shelby opposes the rule and told the news service that "if Democrats push forward with the proposals they risk unravelling much of the bipartisan support already reached regarding the passage of financial regulatory reform in the Senate. Shelby said that the Obama administration risks losing Republican support for the bill if they begin to “politicise” the issue."
Link to the report
Related Stocks:
JP Morgan (NYSE: JPM)
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Morgan Stanley (NYSE: MS)
Citigroup (NYSE: C)
Wells Fargo (NYSE: WFC)
Bank of America (NYSE: BAC)
Key Republican Richard Shelby opposes the rule and told the news service that "if Democrats push forward with the proposals they risk unravelling much of the bipartisan support already reached regarding the passage of financial regulatory reform in the Senate. Shelby said that the Obama administration risks losing Republican support for the bill if they begin to “politicise” the issue."
Link to the report
Related Stocks:
JP Morgan (NYSE: JPM)
Goldman Sachs (NYSE: GS)
Morgan Stanley (NYSE: MS)
Citigroup (NYSE: C)
Wells Fargo (NYSE: WFC)
Bank of America (NYSE: BAC)
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