frl 315 project

frl 315 project - DoddFrank Wall Street Reform and Consumer...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Dodd–Frank Wall Street Reform and Consumer Protection Act Following the 2008 near collapse of the U.S. economy, which was fueled by the crash of the housing bubble, the Dodd-Frank Regulatory Reform Bill established restrictive measures in an attempt to prevent such events in the future. In order to protect unsuspecting borrowers against abusive lending and mortgage practices, the reform bill established government agencies to monitor banking practices and oversight of troubled financial institutions. The financial crisis led to widespread calls for changes in the regulatory system. The Dodd- Frank act was introduced by President Obama in 2009, and was signed into a law by President Obama on July 21, 2010 (Morrissey). The Act changes the existing regulatory structure, such as creating a host of new agencies (while merging and removing others) in an effort to streamline the regulatory process, increasing oversight of specific institutions regarded as a systemic risk, amending the Federal Reserve Act, promoting transparency, and additional changes (Banking). The Act purports to provide rigorous standards and supervision to protect the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

frl 315 project - DoddFrank Wall Street Reform and Consumer...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online