WASHINGTON — Federal Reserve Board Chairman Ben Bernanke suggested Wednesday that a proposal to ban banks from proprietary trading could have helped prevent the $2 billion loss at JPMorgan Chase & Co.
Bernanke, speaking to reporters at a press conference following a two-day Federal Open Market Committee meeting, said one aspect of the so-called Volcker rule "might have potentially changed the outcome" at the New York bank, given the number of improved controls and governance policies that would have been in place to ensure compliance with the regulation.
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