Dodd Frank Wall Street Reform And Consumer Protection Act

In 2007-2008 the US went into a recession, a financial crisis that has since then taken five years to rebuild. During that time millions of Americans were unemployed and faced many economic struggles which negatively impacted the real estate market causing a multitude of foreclosures. The reason for this recession was because there was no authority over banks and they were not being monitored properly. Banks were able to gamble with the finances of millions of people with no consequences towards their actions. The Dodd Frank Act Wall Street Reform and Consumer Protection Act of 2010 was put into place to make sure that nothing like this ever happened again; The Dodd Frank Act implemented and set laws into place to make sure that banks and financial

the causes that led to the 2008 crisis. They view Dodd-Frank as a comprehensive and powerful

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 the wake of the 2008 financial crisis, a Democrat Congress and President Barack Obama passed the Dodd-Frank Act, which in turn unleashed a flood regulations and created the CFPB. While their intent of protecting the little guy is praiseworthy, the legislation had the opposite effect. Since its inception, the CFPB became

The Glass Steagall Act was passed on 1933, which is also known as The Banking Act to tighten regulation on the way banks did their business. This act was written as an emergency measure when about 5,000 banks failed during the Great Depression. Banks mostly failed because of the way they would invest with money. The act prohibits banks from investing money on investments that turn out to be risky. Banks could no longer sell securities or bonds. The act also created Federal Deposit Insurance Corporation (FDIC) to protect the deposits of individuals, which is still used to this date. The FDIC in this era insures your deposits in your bank up to $250,000. This gave the public confidence again to deposit their money in the bank. In 1933

Obama used his legislative power after the he fall of 2008 when a financial crisis of a scale and severity not seen in generations left millions of Americans unemployed and resulted in trillions in lost wealth. To make sure that the economic crisis of 2008 did not happen again, Obama attempted to develop a policy that would hold Wall Street accountable and protect American families from unfair, abusive financial practices. President Obama signed a policy using his legislative power, known as the Dodd-Frank Wall Street Reform and Consumer Protect Act. The Dodd-Frank Wall Street Reform and Consumer Protect Act was signed to prevent the excessive risk-taking that can led to the financial crisis. The law also provides common-sense protections for American families,

After a little more research, I hit a wall, the Dodd-Frank act was very specific, I was unable to find information in order to fully understand and write a research paper. After a little talk with my teacher, he advised me to look more broader, and get more info on the financial crisis itself, and gave me some clues on where to start. Than, after looking into the financial crisis as a whole and grasping the general concept, I was intrigued by the different regulations set by the US Government in response to the financial

In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act is a bill that was put into place to protect Consumers, Investors, Businesses and many other business related sources from repeating another financial crisis. The main purpose of the Dodd-Frank Act is to highlight all the flaws from the previous financial crisis and put preventions into place to reframe from the loss of 8 million jobs to happen again. Throughout I will highlight important proposals within the Dodd- Frank Act to breakdown and explain the reasons behind the development. To explain more fully the basic motivation behind each of these proposals is quite simple actually, starting with Consumer Protections with Authority and Independence.

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into federal law by President Obama on July 21, 2010 as a response to the financial crisis of 2007-08. From an economic standpoint the overall consensus leading to the financial crisis can be linked to not only greed, but to ‘excessive deregulation’ and the “finanicialization of everything” (Knight 2015). Supposedly, the failures were due to the financial sector being funded by debt, which already sounds unethical and a poorly planned system. Prior to Dodd-Frank legislation was the Banking Act of 1933, which had similar intentions of providing stability. However, the Act was eaten away over time and companies weren’t as strictly regulated (Acharya 2013).

No, I do not agree with the decision of repealing and scaling back areas of the Dodd-Frank Act. However, I understand some people do not want the government meddling in our financial and banking industries. For instance, I believe that some businessmen and women want the economy to prosper and allow them to continue to make more money without the government's involvement. This is not morally right, and in years before 2010, the way they were generating billions of dollars was at the expensive of the our government, majority of the people in the United States, and others around the globe.

At the time after the stock market crash (1929), during the Great Depression, most of the people agreed that the main cause for the event was the “improper banking activity” which was mainly seen as the bank involvement in the stock market investment. Banks were taking high risks in hope for rewards, they were “accused of being too speculative in the pre-Depression era” (HEAKAL, 2010, pg.1). They were not only investing their assets, but they were also buying issues in order to resale them to the public. Nearly five thousand banks failed in the U.S. during the Great Depression. As a result of that most people wouldn’t trust the U.S. financial structure anymore. In order to rebuild the

After the 2008 financial crisis the Dodd Frank Act added more strenuous regulatory measures to financial institutions and how they conduct their business operations. One of the most reasons this Act was passed is to regulate bank holding companies, also known as BHCs, ability to remain sustainable during challenging economic conditions. On October 20, 2016 J.P Morgan published the results of the DFAST (Dodd-Frank Act Stress Test).

When the housing bubble has burst in both sides of the Atlantic in 2007, the regulatory system has failed not only to effectively manage the risk, but also to require sufficient transparency and emphasized the vital importance of a well-regulated financial system. As a response of the crisis, the United States launched the most powerful financial regulatory reform plan in the U.S. history since the 1930s: The Dodd-Frank Wall Street Reform and Consumer Protection Act (‘the Dodd-Frank Act’ or ‘the Act’). The new regulatory framework has reached to every corner of the financial sector, in order to reduce the risk and as a result to reduce systemic threats to the broader financial system. Under the Act, the role of the Federal Reserve has

The Federal Reserve Bank has made advancements in the yeas past to balance out the present economy. The actualized the Dodd-Frank Act; this was presented in 2010 amid the Obama organization. It was intended to help the present state by taking out orderly dangers in an economy. While looking at the late years and advancement toward the job with inflation postures challenges for the fiscal arrangement. The board should look at the patterns influencing the U.S Work Market, profitability development and the impacts of the economy of international advancements.

The Dodd Frank law has affected basically the entire financial industry in one way or another, including limiting the ability of banks to engage in “risky” investments, and created oversight agencies for financial institutions and consumers alike. It was enacted after the financial crisis of 2008-9, and was aimed at preventing the creation of banks “too big to fail”.