The Dodd-Frank Act

The Dodd-Frank Act, established in 2010, is a U.S. law aimed at preventing another financial crisis like the one in 2008. It includes regulations to increase transparency and accountability in the financial industry, imposes stricter rules on banks and financial institutions, and creates consumer protections. Key features include the establishment of the Consumer Financial Protection Bureau (CFPB) to oversee financial products and services, and measures to reduce risky financial practices. Overall, the act seeks to stabilize the financial system and protect consumers from unfair practices.