Banks could get a dozen years to comply with the "Volcker rule"

06/29/2010 | Bloomberg

The financial-reform bill could give some large banks as long as 12 years to completely sever ties to their hedge fund and private-equity units under a modified version of the "Volcker rule." While the bill would initially give banks four years to comply, they could apply for as many as three years' worth of extensions, while some kinds of funds would be eligible for an additional five-year delay.

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