July 9, 2019 / 8:19 PM / a month ago

U.S. financial regulators move to exempt community banks from Volcker rule

WASHINGTON, July 9 (Reuters) - U.S. financial regulators on Tuesday said they had adopted a final rule that will exclude small, government-insured banks from regulations banning proprietary trading.

The rule excludes community banks with up to $10 billion in total assets from having to comply with the so-called Volcker rule, which prevents banks from making speculative bets with their own money. (Reporting by Katanga Johnson; editing by Jonathan Oatis)

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