The contentious Volcker rule that calls for a ban on banks' trading on their own books failed to make the regulatory reform bill that was on Thursday approved by the US Senate. The bill contains a weaker clause delegating the issue to regulators.
Jeff Merkley and Carl Levin, two Democratic senators, on Thursday proposed the amendment, which would have prohibited proprietary trading. However, it was tacked on to a separate Republican provision on consumer protection for auto dealers, in order to
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