Dodd-Frank's Most Contested Financial Reform Makes A Quiet Entrance

The banking regulation that promised to hobble Wall Street’s biggest profit engines and force mega-banks to shed whole divisions came into effect Wednesday. But its official implementation made barely a peep. Hailed as one of the central accomplishments of the Dodd-Frank Act, the Volcker Rule aims to curb some of the riskiest activities on Wall Street and make the financial system safer. Among other things, it prevents banks from engaging in proprietary trading, the use of...

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