Dodd-Frank rules: Late and watered down


At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a federal law that aims to protect consumers and the U.S. economy by imposing rules and regulations on U.S. banks and other financial services companies.

Enacted in mid-2010, Dodd-Frank was part of the government’s response to the 2008 financial crisis and Great Recession. Four years later, the law is still controversial.

Dodd-Frank encompassed 2,300 pages and required 398 new federal rules. Of that total, 231 rules have been finalized, 83 have been proposed and 94 have not yet been proposed, according to law firm Davis Polk & Wardwell.

Learn how Bankrate grades Dodd-Frank on its progress so far in rule-making and how effective those rules are after more than four years as a law.