Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Dodd-Frank Act, signed into law by President Barak Obama on July 21, 2010, represents the most comprehensive financial regulatory reform measure enacted since the Great Depression. Named after the U.S. congressional leaders who shepherded its drafting and passage, Senator Christopher J. Dodd, a Republican from Connecticut, and Representative Barney Frank, a Democrat from Massachusetts, the Dodd-Frank Act seeks to address weaknesses in the financial regulatory program that came to light during the financial crisis that erupted in 2007 and whose impact stretched into 2011. With extensive reach that affects a broad swath of financial activity, the Dodd-Frank Act contains provisions that seek to increase market transparency, reduce conflicts of interest and align incentives of ...