Bloomberg News
The "physical commodity trading businesses have never faced any massive tort, commodities-related, environmental or other catastrophic-type liability," said Timothy Sloan, the chief financial officer of Wells Fargo & Co.

Big Banks Dispute Fed's Case for Physical Commodities Restrictions

Wall Street banks and the trade groups and law firms that represent them are challenging the Federal Reserve Board's basis for restricting bank ties to physical commodities, arguing it is fundamentally flawed.

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