‘Volcker Rule’ faces new hiccups

A pair of top federal regulators has started to raise new questions about the so-called “Volcker Rule,” threatening efforts to complete it by the end of the year.

Gary Gensler, the chairman of the Commodity Futures Trading Commission, and Kara Stein, a new Democrat at the Securities and Exchange Commission, both essentially believe the rule currently is not strong enough, according to The Wall Street Journal. 

{mosads}Gensler said the rule doesn’t do enough to stop banks for trading for their own gain, the rule’s key objective. Stein believes the rule now lets banks too easily get around its purpose.

Treasury Secretary Jack Lew said Tuesday that he was confident the rule would be finished this year, the timeline set by the Obama administration.