U.S. regulators Tuesday voted to adopt the so-called Volcker rule meant to limit the ability of banks to use their own money to make risky investment bets.
The Wall Street Journal reported that Comptroller of the Currency Thomas Curry approved of the 1,000-page rule for which he was given two votes, one as the comptroller of the currency and one as a board member of the
"During 2014, we will develop the necessary examination procedures and training to ensure that our bank examiners have the tools they need" to police the new policies, Curry said in a statement.
Commodity Futures Trading Commissioner
The core intention of the Volcker rule is to prevent banks from making market bets with federally insured money, such as depositor money that is insured by the
As such, economics Professor
"That's not a big part our company," he said.
"We'll have to work through it, but in the end if we serve our customers, there's a business there," he said.
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