The biggest banks are about to get their own relief in Washington

The biggest banks may have missed out on the regulatory relief Congress approved this week for the rest of the industry. But they won’t have to wait long for their share.

The Federal Reserve is meeting next week to consider rolling back the Volcker Rule, a legacy of post-crisis regulation reviled by Wall Street banks. The rule, adopted in 2013, bars commercial banks with federally insured deposits from making certain kinds of risky bets with their own and their depositors’ money. Bankers at those firms hate it because it...