Federal Reserve Nips Bank Rules; Critics Warn of Back sliding.

"The Fed is slowly, but steadily, making a series of regulatory changes that chips away at new requirements put in place to prevent a repeat of the 2008 meltdown. The end result is that a portion of bank financial activities will no longer be captured and judged by regulators.The Fed is expected to soon approve bank-friendly changes to the Volcker Rule , . Fed officials worry that the central bank & its  regulators are giving large banks, which are making big profits, an unnecessary gift that could leave the economy exposed in the next downturn. They say the overseers should be forcing banks to maintain or even build up their defenses given the strong economy, which is in its longest expansion on record, rather than eroding those buffers."