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

Show Bankrate's community sharing policy
          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

Can heirs cash an old trust?

Dear Dr. Don, The youngest of 6 children, I am 48 years old. My father joined the Navy at 22. In Italy, he met his bride and my mother, and returned to the U.S. to raise our family. In 1959, he bought a trust certificate... Read more

advertisement

Blog

Dr Don Taylor

Choppy markets make investors seasick

On Monday, the U.S stock market opened lower on weak economic news out of China and lower oil prices. If China's economy catches a cold, does Europe get the flu?  ... Read more

Partner Center
advertisement

Connect with us