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Why five agencies had to vote on the Volcker Rule

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The Volcker Rule, a creation of the 2010 Dodd-Frank financial regulation overhaul, faced its last step before taking effect on Tuesday, when five federal regulatory agencies voted on its approval. That it took five agencies, with a total of 22 voting members, to approve the law is a reflection of the way regulation works in the U.S. and a hint to understanding why it took three years for...

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