investing

Dodd-Frank Act

Financial laws and their namesakes
Dodd-Frank Act

Dodd-Frank Act

The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 is the most far-reaching overhaul of financial reform since the Great Depression.

Named for its co-sponsors, Sen. Chris Dodd, a former lawmaker from Connecticut who now heads the Motion Picture Association of America, and Rep. Barney Frank of Massachusetts, the act was crafted to address concerns that were highlighted during the financial crisis of 2008.

Among the Dodd-Frank changes are increased oversight and supervision of financial institutions, a new resolution procedure for large financial companies, stringent regulatory capital requirements and changes to corporate governance and executive compensation practices.

The act also created the Consumer Financial Protection Bureau, which began operation in 2012. This new agency is responsible for, in part, implementing and enforcing compliance with consumer financial laws. In addition, the bureau also promotes increased consumer financial education.


 

advertisement

          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

How should my teen invest $150K?

Dear Dr. Don, My son will turn 18 years old in December. He has $150,000 from a settlement now sitting in the bank. What is the best plan to pursue for investing this money? Is investing in precious metals a good way to... Read more

advertisement

Blog

Sheyna Steiner

Balancing your investment portfolio

Setting goals and formulating a plan to get there helps investors stay on the straight and narrow.  ... Read more

Partner Center
advertisement

Connect with us