FINANCIAL REFORM

» Audit the Federal Reserve

» Breaking up the Banks

» Creating a Consumer Financial Protection Agency

» Executive Compensation


Sign Up

To receive regular updates on our campaigns for Financial Reform. 

 

Recent Reports

July 21 - Dodd-Frank Is Five: And Still Not Allowed Outside the House
July 15 - Financial Services Conflict of Interest Act: Outlining the Need for Increased Revolving-Door and Reverse Revolving-Door Legislation
January 25 - Continued Concerns With HSBC: Giant Bank Has Been Involved in Several Legal Investigations Since Signing Deferred Prosecution Agreement
More - See All Financial Reform Reports

Business as Usual

99.9 Percent of Banks Would Not Be Affected by Volcker Rule

Dec. 13, 2012 — The Volcker Rule, among the most controversial aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, will prohibit federally insured banks from engaging in proprietary trading, which involves speculation through short-term trades in stocks, derivatives and other securities.The financial crash, borne of reckless banking practices, cost the economy about $12 trillion. But Wall Street lobbyists have sought to water down the rule based on relatively miniscule costs that it would impose on them. A new Public Citizen report shows that most bankers have little to fear. In reality, the Volcker Rule will mean no change, no closure of business divisions, no costs from foregone financial activity, for more than 99.9 percent of banks.

Copyright © 2016 Public Citizen. Some rights reserved. Non-commercial use of text and images in which Public Citizen holds the copyright is permitted, with attribution, under the terms and conditions of a Creative Commons License. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation. Learn More about the distinction between these two components of Public Citizen.


Public Citizen, Inc. and Public Citizen Foundation

 

You can support the fight for greater government and corporate accountability through a donation to either Public Citizen, Inc., or Public Citizen Foundation, Inc.

Public Citizen lobbies Congress and federal agencies to advance Public Citizen’s mission of advancing government and corporate accountability. When you make a contribution to Public Citizen, you become a member of Public Citizen, showing your support and entitling you to benefits such as Public Citizen News. Contributions to Public Citizen are not tax-deductible.

Public Citizen Foundation focuses on research, public education, and litigation in support of our mission. By law, the Foundation can engage in only very limited lobbying. Contributions to Public Citizen Foundation are tax-deductible.