According to the Wall St Journal senators from both parties are working to give regulators more time to write the rule, potentially easing banks' concerns that their activities will run afoul of the law as a July deadline passes.
The Volcker rule, which restricts banks' ability to trade with their own money, is set to take effect July 21, whether or not regulators have a final rule in place, according to the 2010 Dodd-Frank financial overhaul law. Federal Reserve Chairman Ben Bernanke said last month that regulators likely wouldn't have …
Read all about it at http://online.wsj.com/article/SB10001424052702303812904577293924199972912.html?mod=WSJ_hp_LEFTWhatsNewsCollection
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