Frank-Dodd Wall Street Reform

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, was designed to increase oversight and regulation of the financial industry following the 2008 financial crisis. It aims to reduce risky behaviors by banks and financial firms, enhance transparency, and protect consumers from unfair practices. Key provisions include stricter oversight of large, interconnected financial institutions, creation of the Consumer Financial Protection Bureau to safeguard consumers, and new rules for derivatives trading. Overall, Dodd-Frank seeks to make the financial system more stable and prevent future crises while increasing accountability within the industry.