Looks like bank freedoms will no longer be in danger.

Obama is trying to push regulations on the investment activities of banks and large non-bank financial companies, further extending the government's reach.  But, the proposal, known as "Volcker Rule" looks as if its going to be rejected.

The proposal was named after former Federal Reserve Chairman, Paul Volcker, and would restrict bank investments by increasing oversight by other financial institutions, sometimes requiring larger capital reserves than previously deemed necessary. 

Key Democrats plan to give federal regulators the power to use their own discretion on a case by case basis instead of adopting "Volcker Rule."

The Washington Post