Dodd-Frank Wall Street Reform

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, was a response to the 2008 financial crisis. Its primary aim is to increase regulation and oversight of the financial industry to prevent future crises. Key features include stricter rules for banks, the establishment of the Consumer Financial Protection Bureau to protect consumers from unfair practices, and measures to improve transparency in financial markets. Overall, Dodd-Frank seeks to promote financial stability, protect consumers, and ensure that the financial system operates more fairly and transparently.