Five U.S. agencies will finish the Volcker rule today after more than three years of Wall Street resistance to its limits on trading and investing. Lawmakers and their allies who want to rein in big banks are ready to pounce if it isn’t strict enough.
European Union finance ministers will try to break a deadlock tomorrow on a euro-area bank-failure authority that the European Central Bank says is vital to the bloc’s efforts to prevent future financial crises.
Germany could live with Dutch Finance Minister Jeroen Dijsselbloem’s proposal to separate deliberations on a rescue fund from other aspects of a European Union bank-failure plan, said the parliamentary finance spokesman of Chancellor Angela Merkel’s party.
German Finance Minister Wolfgang Schaeuble pushed back against Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen after he said the minister’s call to keep up vigilance of banks was “irresponsible.”
Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.