The American bankers Association on Monday said it would mount a legal challenge to the "Volcker rule" unless U.S. banking regulators softened a provision of the rule that restricts bank ownership of certain investments.
Dodd-Frank Wall Street Reform Law
Breaking News
In a 254-159 vote, the US House of Representatives passed a legislation exempting private equity firms from provisions in the 2010 Dodd-Frank Wall Street Reform Law. However, a similar action is not expected from the Democrat-dominated US Senate.
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