Volcker Rule

A proposal to restrict banks from making speculative proprietary investments and/or trading. Proposed by economist and former US Federal Reserve Chairman Paul Volcker. Volcker was appointed by President Obama as the chair of the President's Economic Recovery Advisory Board on February 6, 2009 and the Volcker Rule was publicly endored by President Obama on January 21, 2010 and was partially implemented in the Dodd-Frank Act.