It’s time to rethink major Wall Street regulations, including the Volcker Rule and the Federal Reserve’s annual stress tests of banks, now that almost a decade has passed since the financial crisis, New York Fed President William Dudley said.
“It is entirely appropriate to take a critical look at the changes that were made to the regulatory regime,” Dudley said in remarks prepared for an event Friday at the Princeton Club of New York. The obvious -- and bipartisan -- possibility for easing smaller-bank regulations is one place to start, he said, but he signaled openness to changes that would affect larger banks, too.
