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That’s gonna hurt: Bankers brace for the Volcker Rule

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The Volcker Rule is supposed to keep banks that take in federally insured deposits from engaging in risky trades and regulators will vote on it next week. With tight restrictions expected on what banks can consider hedging, Standard & Poor’s estimates that the combined pretax profits of the eight largest U.S. banks could take a hit of anywhere between $2 billion to $10 billion a year.