Wall Street Group Urges Congress To Delay Volcker Rule

Law360, New York (March 21, 2012, 2:04 PM EDT) -- A Wall Street lobbying group on Wednesday urged U.S. congressional lawmakers and federal regulators to delay the implementation of the Volcker Rule limiting proprietary trading by banks, saying banks could halt their loan securitization activities due to uncertainty over their regulation under the rule.

The rule, set to go into effect July 21, should be delayed until at least 12 months after regulators issue the final version, the American Securitization Forum said in a letter to leaders of the Senate banking and House financial services committees....
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