Xinhua/Wang Ying/ Getty Images
Bank stocks surged as much as 3% on Thursday after federal regulators rolled back the Volcker Rule, a financial crisis-era …
Xinhua/Wang Ying/ Getty Images
Bank stocks surged as much as 3% on Thursday after federal regulators rolled back the Volcker Rule, a financial crisis-era rule that restricted banks from operating proprietary trading units and from acquiring or retaining ownership stakes in hedge funds or private equity funds.
The Federal Deposit Insurance Corporation, Federal Reserve Board of Governors, Office of theComptroller of the Currency, Securities and Exchange Commission, and Commodity Futures TradingCommission issued a final rule on Thursday « to modify and clarify the covered fund provisions » of the rule, according to the news release.
