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Volcker Bank Rule Takes Effect

Former Chairman of the Federal Reserve Paul Volcker, visits FOX Business Network's "CAVUTO: Coast To Coast" at FOX Studios on June 17, 2015 in New York City.  (Monica Schipper/Getty Images)
Former Chairman of the Federal Reserve Paul Volcker, visits FOX Business Network's "CAVUTO: Coast To Coast" at FOX Studios on June 17, 2015 in New York City. (Monica Schipper/Getty Images)

Starting today, Wall Street banks have to comply with the Volcker Rule, considered one of the biggest new restriction they’ve faced in decades.

The rule bans taxpayer-insured banks from making bets on their own money, and banks fought it for years. But many have since fallen in line.

Here & Now‘s Jeremy Hobson takes a look at what the move will mean with Maggie Lake of CNN.

Guest

  • Maggie Lake, business reporter for CNN. She tweets @maggielake.
  • Copyright 2021 NPR. To see more, visit https://www.npr.org.