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Bank stocks reverse higher as regulators ease Volcker Rule, JPMorgan Chase rises 2%

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People wait in line outside CHASE bank to use the ATM machine during the coronavirus pandemic on May 29, 2020 in New York City.

Cindy Ord | Getty Images

U.S. banking regulators are about to ease restrictions created in the aftermath of the financial crisis, a development that sent bank stocks surging Thursday. 

Officials from the Federal Deposit Insurance Commission said on a call that they are loosening the restrictions from the so-called Volcker Rule, allowing banks to more easily make large investments into venture capital and similar funds. The companies will also be able avoid setting aside cash for derivatives trades between different units of the same firm, potentially freeing up…



Source cnbc.com

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