smart spending

New financial regulations take hold in 2011

New consumer finance laws come online
Next
1 of 9

Hear those waves crashing? No, it's not your nature sounds album. That's the sound of a sea change in the way the government regulates financial products.

This year will be one of change for the financial industry, thanks to the mammoth financial reform law known as the Dodd-Frank Act. Many of those changes, involving reshuffling of regulatory agencies, restrictions on banks' investing activities and ways to wind down failing Wall Street giants won't be noticed by most consumers.

"The initial effects are going to be minor, because (regulators) have to interpret the laws and put them into place," says Tom Cosimano, a finance professor at Notre Dame's Mendoza College of Business.

As regulators get Dodd-Frank rolling in 2011, a few key financial reforms may have repercussions that consumers will feel for good and, in some cases, for ill. Here are a few of the biggest.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.11%  0.06 4.17%
15 year fixed 3.22%  0.04 3.26%
5/1 ARM 3.46%  0.13 3.33%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.31%  0.02 4.29%
50K FICO-based HELOC 4.06%  0.02 4.04%
100K FICO-based HELOC 3.91%  0.02 3.89%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79% --0.00 2.79%
48 month used car loan 2.99% --0.00 2.99%
60 month new car loan 3.23%  0.01 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.97%  0.00 0.97%
2 Year CD 1.18%  0.02 1.16%
5 Year CD 1.81%  0.10 1.71%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.75% --0.00 15.75%
Cash Back Cards 16.45% --0.00 16.45%
Low Interest Cards 10.96% --0.00 10.96%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us