Dodd Frank Act Case Study

The Consumer Financial Protection Bureau, or CFPB, was created as a tool of financial reform in the legislative package that was authorized by the Dodd-Frank Act, but the law specifically includes terms that prohibit setting interest rate limits, which is contrary to the 36-percent limit that the CFPB is currently trying to mandate as a universal limit on short-term rates. The specifics of the Dodd-Frank Act, according to the www.dodd-frank-act.us, state that the legislation grants, "NO AUTHORITY TO IMPOSE USURY LIMIT" unless such a limit is first passed through due legal processes.

Toward the end of the 1920s, in a little town in South Texas named Cotulla, a junior high teacher saw the injustice and poverty among his Mexican-American students (Del Bosque, 2013). After decades passed, that same man became the U.S. President; Lyndon B. Johnson signed the bill that constructed Medicaid in 1965, which is a program that is funded by the state and the federal government to provide health insurance to low-income Americans (2013). Johnson had an idea to create a “Great Society” which he defined as “a society where no child will go unfed, and no youngster will go unschooled” (2013) . Now even in 2015, we see that President Obama is still fighting for this dream of Johnson’s (Ura & Walters, 2014). President Obama’s Affordable Care

Thanks for your input, I understand that the new health care law remarks the importance of a suitable job and a stable income. Under the Affordable Care Act law, everyone with a steady job could have access to health care benefits and services besides a stable income will provide the opportunity to pay for a private health care insurance. Indeed, the marketplace is income based and included not just the family incomes but also the income of any individual who lives in the same household even though they are not applying for an insurance, however the Federal Poverty Level (FPL) is the factor used to determine the eligibility and the access to health care benefits so if the Income is between 100% and 400% FPL the individual will qualify for

The Dodd-Frank Act has a market-saving impact in numerous ways, including but not limited to: Starting a financial stability oversight council which actively monitors the stability of large firms whose bankruptcy could have a major negative impact on the economy, the act also provides money to assist with dismantling financial companies that have been placed in receivership, and prevents tax dollars from being used to prop up such firms, which previously was a large waste of tax payer money. It also stops predatory mortgage firms who lend to people who can't afford it, which helped cause the 2008 financial crisis*. While many Republicans will try to convince you that Wall Street’s heavy regulation is killing small banks and reducing the big

In 2008, when the financial crisis occurred, millions of Americans were left without jobs and trillions of dollars of wealth was lost wealth. To make sure the Great Recession would not happen again, President Barrack Obama put into effect the Dodd- Frank Act. With the help of this law, banks will not be able to take irresponsible risks that had negative effects on the American people. Furthermore, with the Volcker Rule embedded into the act, it will ensure that banks are no longer allowed to own, invest, or sponsor hedge funds, private equity funds, or proprietary trading operations for their own profit, unrelated to serving their

Named after the United States senator Christopher J. Dodd and the United States Representative Barney Frank, the Dodd–Frank Wall Street Reform and Consumer Protection Act was signed in to federal law by the president Barack Obama on July 21, 2010 in an attempt to prevent the events that led to the 2008 financial crisis of occurring again. Commonly known as the Dodd-Frank, the act brought the biggest changes to regulations on financial institutions since the reforms on regulations that followed the Great Depression. The act creates regulatory agencies for financial institutions, as well as an oversight council that is in charge of assessing systemic risk. The council also has the power of restraining the growth of large financial institutions

2010-2016: A Study of the Dodd Frank Act’s Role in a Slow U.S. Economic Recovery After the 2008 Financial Crisis

The united states is currently the proprietor of nearly nineteen trillion dollars in debt, and that number continues to increase to by 2.53 billion per day. With close to three hundred million people in the united states each shared citizen’s debt would be around sixty-one thousand dollars. (debt calculator website). In 2008 at the end of the George bush administration the country was said to be in the worst economic recession since the great depression. The current president of the united states, Barack Obama and his administration proposed a bill to congress in 2009, that was believed to assist in the prevention of another recession. This bill was titled “The Dodd Frank initiative and consumer protection act.” It was named after the two legislators who created it, Chis Dodd and Barney Frank. This initiative was, and continues to be, considered a “massive” piece of legislation. (quote). Although introduced, It did not pass in congress until July 21, 2010. In addition to assisting with the economy, this act was created to help insure that consumers would not be easily taken advantage of by major financial agencies and corporations. All of us, no matter age, gender, or financial status are consumers. This act has put checks and balances in place that will protect all families from making financial decision that might cripple them into a situation that may make it impossible to get out

The government regulation of the financial industry by the Dodd-Frank Act was the most compelling topic of this class. A financial regulatory process was created which limits risk through the enforcement of transparency and accountability. The main objective of the Dodd-Frank Act was to provide regulation to banks that was more stringent. The FSOC was created as a result of the Dodd-Frank Act. The two main objectives of the FSCO was to stop the occurrence of another recession and to resolve persistent issues. The elimination of bailouts funded by taxpayers was another important element of this act. The CFPB also known as the Consumer Financial Protection Bureau was created as a result of the act. The consolidation of consumer protection responsibilities

The full name of the bill is the Dodd-Frank Wall Street Reform and Consumer Protection Act, but it is mostly known as Dodd-Frank. The Dodd-Frank Act is a United States federal law, which is divided into sixteen titles that places major regulations on the financial industry with the purpose of restraining another major financial market collapse. The stated aim of the legislation is: “To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes” (Thomas, 2010).

One thing all US banks have in common is that they are all financial institutions regulated by the Federal Government.

One of the current topics in financial news concerns regulatory legislations and specifically the Dodd-Frank act that was enacted after the 2008 financial crisis. As with most regulatory legislations, there are both pros and cons with proponents to each side. I find the current arguments similar to the issues surrounding the Sarbanes-Oxley Act of 2002 that was enacted after many financial accounting scandals in the late 1990s. While many believe both pieces of legislations make the financial markets safer and more transparent, there needs to be a balancing act to allow capitalism to also flourish in a free economy.

The Dodd–Frank Wall Street Reform and Consumer Protection Act was implemented in 2010 as a response to the 2008 financial crisis, aiming at improving the stability of U.S. financial system, solving “too big to fail” problem, and protecting consumers’ rights.

This memo is to address the changes and consequences brought forth by the implementation of the Sarbanes – Oxley Act. The Sarbanes – Oxley Act was signed into law in efforts to eradicate company misconduct and protect public confidence by regulating management, accountants and legal counsel that represent the company (Noorishad, 2005). When passing the Sarbanes – Oxley Act, Congress also planned to protect whistleblowers because it is those who work in the organizations every day that see first-hand the indiscretions that frequently end in substantial corporate fraud (Watnick, 2007).

Although the bank should have reorganized prior to the acquisition, the purchase will interfere with normal operations and invite government and regulatory scrutiny (e.g., Dodd-Frank Act). As a result, it is very important for the bank to maintain up-to-date communications with all employees, which will reduce anxiety and fear. That is, employees should never gather employment information from the media and/or unofficially from coworkers (e.g., rumors). Most importantly, the bank must immediately notify and meet with employees (e.g., upper management) that will likely lose their positions due to the acquisition and offer them satisfactory severance packages, which can be paid/available if employees remain until the acquisition is approved