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Wall Street Reform Group Warns Against Volcker Changes

Law360, New York (January 21, 2014, 5:55 PM EST) -- A financial reform activist group on Tuesday said legislation that would allow banks to maintain interests in collateralized debt obligations backed by so-called trust-preferred securities would lead to a clamor for other Volcker rule exemptions and weaken the proprietary trading ban.

Occupy the SEC said in separate letters to the Senate Banking Committee and the House Financial Services Committee that bills in both committees to grant an exemption for banks to continue holding TruPS-backed CDOs would make it easier for other industry lobbying groups to ask...
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