Federal Reserve votes to ease rule aimed at preventing big banks from making risky financial bets

The following article by Renae Merle was posted on the Washington Post website May 30, 2018:

Federal regulators on Wednesday approved a broad proposal easing financial crisis-era regulations on risky trading, delivering Wall Street one of its biggest victories yet in the Trump era.

The changes will give big banks, including Goldman Sachs and JPMorgan Chase, a reprieve nearly a decade after risky trading was blamed for contributing to the near collapse of the U.S. financial sector. It will also provide another boost to an industry already reporting record profits — $56 billion during the first three months of this year. Continue reading “Federal Reserve votes to ease rule aimed at preventing big banks from making risky financial bets”