Federal Reserve proposes loosening rules on bank investments

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(AP) – The Federal Reserve is supporting a proposal to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds.

The proposal would affect the so-called “Volcker Rule,” which was created after the 2008 financial meltdown.

That rule barred banks from trading with government-insured deposits with the goal of preventing the kind of excesses that led to the financial crisis and Great Recession.

The draft rule approved Thursday would exempt venture capital funds from that Volcker Rule’s provision. 

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