Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Dodd-Frank Act

Read a random definition: raid

A quick definition of Dodd-Frank Act:

The Dodd-Frank Act is a law that was created in 2010 to make changes to the way financial regulations work. It was made to help protect consumers and make sure that the financial industry is more stable. The law has many different parts that cover things like how banks are regulated, how companies report their financial information, and how consumers are protected from fraud.

A more thorough explanation:

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a law that was signed in July 2010. It made changes to the way financial regulations are handled. The goal of the law was to prevent another financial crisis like the one that happened in 2008.

Some of the major provisions of the Dodd-Frank Act include:

  • Creating the Consumer Financial Protection Bureau to protect consumers from unfair financial practices
  • Requiring banks to hold more money in reserve to prevent them from taking on too much risk
  • Requiring companies to disclose more information about their executive pay and the risks they take
  • Creating a new agency to oversee the trading of complex financial instruments

For example, the creation of the Consumer Financial Protection Bureau was meant to help prevent predatory lending practices that had contributed to the 2008 financial crisis. By requiring banks to hold more money in reserve, the law aimed to prevent them from taking on too much risk and potentially collapsing. Requiring companies to disclose more information about their executive pay and the risks they take was meant to increase transparency and accountability.

documentary evidence | Dodd-Frank Act - Table of Contents

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.