Videos

Yellen Says Fed Will Weigh Compliance Extension For Volcker Rule

wochit business
|
November 20, 2013 AT 3:12 PM
Federal Reserve Vice-Chair Janet Yellen said The Federal Reserve is weighing whether banks should get more time to comply with the Volcker rule, which bans them from trading with their own money. Yellen did not specify whether an extension will be granted, but noted that the 2010 Dodd-Frank Wall Street reform law does give the Fed some leeway because it permits regulators to grant banks up to three one-year extensions if necessary.