UPDATE 1-No need to force banks out of swaps business-Frank

Newswire

* Volcker rule deals with banks' risky operations-Frank * Derivatives rules one of most contentious part of bill WASHINGTON, May 25 (Reuters) - Congress' top architect on financial regulation said on Tuesday that there was no need to force banks out of the lucrative over-the-counter derivatives business. Barney Frank, who will chair the House-Senate panel that hammers out the final financial regulation bill, said he disagreed with language in the Senate's bill that could force banks to ...

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