The New York Post reports that "according to people familiar with the situation," the White House is abandoning the "Volcker Rule," a key reform named after the former Fed Chair that would prohibit proprietary trading at commercial banks. Instead, the paper's sources say, the administration will push for a new rule that requires banks that engage in prop trading to maintain higher capital reserves.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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