|“The Federal Reserve’s attempt to clarify the ‘Volcker rule’ is only creating more confusion. At issue is whether the Fed is requiring banks to start scaling back on making bets with their own money almost immediately, or whether they can continue until the ban on such activities goes into effect in two years.” –Scott Patterson|
Today’s WhatIs.com Word of the Day is the Volcker Rule, a section of the Dodd–Frank Wall Street Reform and Consumer Protection Act that restricts U.S. banks from making speculative, high-risk investments that do not benefit customers.
From the get-go, bankers have expressed concern that the Volcker Rule would hurt the ability of U.S. businesses to be competitive in a global arena. SearchCompliance.com has more information about how the Volcker Ruling will affect IT departments.