Trump's Push to Ease Wall Street Rules Hindered by Missteps
- Efforts on Volcker, other big-bank rules said to face delays
- Time pressure is mounting for agencies to rewrite regulations
Photographer: Michael Nagle/Bloomberg
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President Donald Trump has repeatedly vowed to loosen Wall Street’s leash, but some of regulators’ most meaningful efforts to revamp post-crisis constraints on big banks are running into problems.
Take the Volcker Rule, which restricts banks from making risky market bets with their own money. Under Trump, federal agencies sprinted to rewrite it, issuing an overhaul plan last May. Yet instead of showering regulators with praise, industry lobbyists blasted Volcker 2.0, arguing that it might be even more confining than the version already on the books.