Volcker Rule Rewrite Said to Be Underway

The Financial Stability Oversight Council (FSOC) met to discuss potential changes to the Volcker Rule, a regulation stemming from the Dodd-Frank Act that restricts banks from certain investment activities. The Trump administration aims to initiate financial deregulation, with Treasury Secretary Steven Mnuchin playing a key role. While FSOC and other regulators have significant power to adjust the rule's standards, any fundamental changes would require congressional action. Mnuchin has indicated that discussions have been constructive, involving multiple regulatory agencies.

What limitations do regulators face in altering the Volcker Rule?

What was Treasury Secretary Steven Mnuchin's stance on the discussions regarding the Volcker Rule?