Objections to Volcker rule call it soft on banks

A new commissioner at the Securities and Exchange Commission, Kara Stein, and Commodity Futures Trading Commission Chairman Gary Gensler have raised objections to the proposed Volcker rule. Stein says the rule allows banks to sidestep rules on hedging, and Gensler says it does not go far enough to regulate proprietary trading. Treasury Secretary Jack Lew said Tuesday that he expects the rule to be completed by the end of the year.

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