Sens. Introduce Volcker Bill Despite Weak Support

Law360, New York (March 10, 2010, 6:37 PM EST) -- Two Democratic senators on Wednesday introduced a beefed-up version of the ban on proprietary trading by banks and bank holding companies, known as the Volcker Rule, despite reports that the proposal would not be included in a Senate financial regulatory reform package.

The Protect our Recovery through Oversight of Proprietary Trading Act, or PROP Trading Act, would block banks and bank holding companies from engaging in “high risk speculation” in securities. The bill also would bar bank holding companies from investing in or starting up a...
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