GM names first female CEO of U.S. car company
Top U.S. regulatory agencies adopt rule to prevent banks from taking risky bets
The nation’s top regulatory agencies adopted the final version of a rule aimed at preventing banks from taking risky bets that supporters argued could endanger the financial system. The Federal Reserve, Federal Deposit Insurance Corp. and Securities and Exchange Commission voted Tuesday to approve the Volcker Rule, the centerpiece of the 2010 Dodd-Frank financial overhaul. The U.S. Commodity Futures Trading Commission and the Office of the Comptroller of the Currency also approved the rule Tuesday, according to media reports. The goal of the rule is to prevent the nation’s largest lending institutions from taking speculative bets with their own money and taxpayer-backed deposits. The Fed board also voted unanimously to grant a one-year extension, until July 2015, for banks to fully comply with the new provisions.
Reid says Senate will not extend current farm law if no new bill
BMW AG sales up 2.7 percent in November