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volcker rule

May 30, 2018

Fed proposes easing rule that limits risky bank trading

WASHINGTON — The Federal Reserve is proposing to ease a rule aimed at defusing the kind of risk-taking on Wall Street that helped trigger the 2008 financial meltdown. The Fed under new leadership on Wednesday unveiled proposed changes to the Volcker Rule, which bars banks’ risky trading bets for their own profit with depositors’ money. […]

Jun 13, 2012

JPMorgan CEO Dimon says execs may have pay taken back

WASHINGTON — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company. “It’s likely that there will be clawbacks,” Dimon told the Senate Banking Committee. Under bank policy, Dimon said, stock and bonuses […]

Jun 12, 2012

Chase CEO Dimon plans to apologize before Congress

NEW YORK — JPMorgan Chase CEO Jamie Dimon plans to apologize before members of Congress on Wednesday for a trading loss that has cost the bank more than $2 billion. He is also saying that the bank has taken steps to make sure it does not happen again. “We have let a lot of people […]

May 22, 2012

SEC reviewing JPMorgan’s filings after $2B loss

WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee Tuesday that the agency is examining JPMorgan’s earnings statements and first-quarter financial reports to det[...]

May 14, 2012

No sign of shareholder revolt against Dimon

NEW YORK — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed. While Dimon may be greeted by some colorful protesters when he arrives for the JPMorgan […]

Apr 19, 2012

Fed: Banks get 2 years to comply with Volcker Rule

WASHINGTON — The Federal Reserve says banks will have two years to comply with a rule that would ban them from trading for their own profit. The so-called Volcker rule is expected to take effect this summer. But the Fed clarified Thursday that it won’t enforce it until July 2014. Congress directed regulators to craft […]

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