Goldman Urges Do-Over by Trump Regulators in Easing Volcker Rule
- Bank says agencies fell short of softening regulation’s impact
- Fed, other watchdogs sought to relax burdens of trading limits
A pedestrian passes in front of the headquarters of Goldman Sachs Group Inc., in New York.
Photographer: Scott Eells/Bloomberg
This article is for subscribers only.
Goldman Sachs Group Inc. has been brawling with regulators over the Volcker Rule for years. And it’s still fighting even though officials appointed by President Donald Trump are now working to soften the landmark constraint on banks.
Goldman said a revamp that regulators proposed earlier this year falls far short of what’s needed to ease undue burdens on Wall Street. Among the gripes it laid out in an Oct. 17 letter to federal agencies: the overhaul might make it even harder for banks to trade and it remains too restrictive in curtailing lenders’ investments in hedge funds and private-equity firms.