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Simple English definitions for legal terms

Dodd-Frank: Title I - Financial Stability

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A quick definition of Dodd-Frank: Title I - Financial Stability:

Dodd-Frank is a law that helps keep the United States' financial system stable and safe. It created two new government departments, the Financial Stability Oversight Council (FSOC) and the Office of Financial Research, to watch over big financial companies and make sure they don't cause problems. The FSOC can tell companies to follow rules to reduce risk, and even stop them from doing certain things if they could hurt the economy. The law also makes sure that foreign financial companies follow the same rules if they want to do business in the United States.

A more thorough explanation:

Definition: Title I of the Dodd-Frank Act is a law that expands federal research, evaluation, and oversight of large financial institutions to manage risks to the financial stability of the United States. It establishes two new government departments, the Financial Stability Oversight Council (FSOC), and the Office of Financial Research, an office within the Treasury. Title I also expands the authority of the Board of Governors of the Federal Reserve System to allow for supervision of certain nonbank financial companies and large bank holding companies that could have a substantial impact on the United States economy.

Example: Before the Dodd-Frank Act, some financial institutions were not under government supervision, despite their potential to impact the financial stability of the United States. Title I expands the supervision and regulation of these previously unsupervised financial companies.

Explanation: The establishment of new departments and offices to research and monitor will likely lead to stronger supervision of large companies. The Financial Stability Oversight Council (FSOC) has the authority to evaluate and identify nonbank financial companies that will be under heightened supervision by the FSOC and the Board of Governors of the Federal Reserve System. The Board of Governors has the authority to impose more stringent supervisory standards on those covered financial companies. These regulations are tied to the same risk factors considered by the Federal Stability Oversight Council (FSOC), including liquidity requirements, risk management processes, resolution plan reports, credit exposure reports, and limits on risk concentration.

Dodd-Frank: Definitions | Dodd-Frank: Title II - Orderly Liquidation Authority

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join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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