Congress Strengthening "Volcker Rule"

The Huffington Post reports that the conference between the House and Senate is resulting in a strengthened "Volcker Rule":

The House and Senate have reached "conceptual agreement" on strengthening what's known as the Volcker Rule in the Wall Street reform bill, House Financial Services Chairman Barney Frank (D-Mass.) said after a conference committee hearing Thursday.

The Volcker Rule restricts major banks from trading taxpayer money for their own profit. The Senate version would leave the decision of whether to bar such trading up to regulators. The House bill would empower regulators to do so, but would give no direction. Advocates of a strong Volcker Rule fear that without direction, regulators won't act.

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