U.S. bank watchdogs to consider Volcker rule tweak

The announcement came after lenders warned in a lawsuit of hefty losses from the so-called Volcker rule. The American Bankers Association welcomed the regulatory action. The Volcker rule prohibits banks from owning hedge funds or private equity funds to reduce risk, but the ban included a type of security that a group of community banks regard as harmless. The regulators said they would now reconsider whether these instruments could be made exempt and would make a decision no later than January 15.



via Business News - Yahoo Finance http://finance.yahoo.com/news/u-bank-watchdogs-consider-volcker-003052564.html