Volcker Wants Major Overhaul of Financial Regulation

April 20, 2015 1:11 PM

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Former Federal Reserve Chairman Paul Volcker on Monday called for a complete overhaul of the U.S. financial structure, recommending a sharply streamlined regulatory system.

“The system for regulating financial institutions in the United States is highly fragmented, outdated, and ineffective,” Volcker said in prepared remarks during a speech in Washington, D.C.

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