WASHINGTON - Wall Street banks will need to prove to regulators their trades are done on behalf of clients or to protect against market risks and are not speculative bets for their own profit, under the final version of the Volcker rule released by U.S. officials on Tuesday.
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Recent Politics News
MIAMI - U.S. Representative Alan Grayson, a Florida Democrat, lost about $18 million in a scheme involving a Reston, Virginia-based firm that loaned customers funds in exchange for securities posted as collateral, his office said on Monday.
ON BOARD AIR FORCE ONE - President Barack Obama brought former President George W. Bush with him to Africa on Monday to attend a memorial for Nelson Mandela in a high-profile show of American respect for the man who vanquished white-minority rule in South Africa.
WASHINGTON - The U.S. Senate gave final approval on Monday to a bill to renew a ban against firearms that can pass undetected through metal detectors, but rejected calls to update the law in response to the advent of plastic guns made with 3-D printers.
WASHINGTON - President Barack Obama's choice for U.S. tax commissioner, a multimillionaire with a reputation for troubleshooting, appears headed for confirmation, but on Tuesday will first face some tough questioning in Congress.