Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, aimed to prevent the financial excesses that led to the 2008 financial crisis. It introduced stricter regulations for banks and financial institutions to enhance accountability and reduce the risk of future crises. Key provisions include the creation of the Consumer Financial Protection Bureau to protect borrowers, increased oversight of large financial entities, and measures to limit risky trading practices. Overall, Dodd-Frank seeks to promote stability in the financial system and safeguard consumers from harmful financial practices.