Editorial Board
Someone Just Blew a Hole in the Volcker Rule
The Trump administration couldn’t leave well enough alone.
Go for it.
Photographer: Juan Mabromata/AFP/Getty ImagesUp to now, President Donald Trump’s largely ill-conceived effort to roll back financial regulation had one redeeming feature: a mostly sensible plan to improve the Volcker Rule, a piece of the 2010 Dodd-Frank Act aimed at limiting banks’ ability to take undue risks with taxpayer backing.
Not anymore. A new round of tweaks, which regulators are in the process of approving, threatens not to fix the rule, but to blow a big hole in it.