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Volcker criticizes Congress’ attempt to weaken Dodd-Frank 

January 9, 2015

Eric Garcia, Marketwatch

Former Federal Reserve Chairman Paul Volcker criticized Congress’ attempt to delay provisions of the Dodd-Frank law rule that bears his name.

On Wednesday, the House of Representatives voted down a bill that would have delayed a provision of the so-called Volcker rule that would have given banks until 2019 to comply with rules regarding collateralized loan obligations, a type of security backed by debt, often high-risk commercial loans.

Volcker previously criticized banks for not being able to comply with another part of the rule, which required banks to divest from hedge funds and private equity funds.

Read More: Marketwatch 

 

 
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