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Simple English definitions for legal terms

Dodd-Frank: Title III - Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors

Read a random definition: CAN-SPAM Act of 2003: Preemption

A quick definition of Dodd-Frank: Title III - Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors:

Title III of the Dodd-Frank Act is a law that makes sure banks operate safely and fairly. It gets rid of a group called the Office of Thrift Supervision and gives its powers to other groups like the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System. This law also changes how deposit insurance works, making it fairer and more based on risk. It also requires the creation of an Office of Minority and Women Inclusion at each federal agency. The law went into effect in 2011.

A more thorough explanation:

Definition: Title III of the Dodd-Frank Act aims to streamline the supervision of depository institutions and their holding companies by abolishing the Office of Thrift Supervision (OTS) and transferring its regulatory and rulemaking authority to the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Board of Governors of the Federal Reserve System (Federal Reserve). It also reforms federal deposit insurance.

Examples: Before Title III, the OTS was responsible for regulating state and federal savings associations and their holding companies. However, after the transfer of powers, the OCC, FDIC, and Federal Reserve acquired regulatory and rulemaking authority over these institutions. Additionally, Title III reformed federal deposit insurance by increasing the maximum share insurance from $100,000 to $250,000 and requiring the FDIC and National Credit Union Administration to fully insure the net amount that any depositor at an insured deposit institution maintains in a noninterest-bearing transaction account.

Explanation: The examples illustrate how Title III of the Dodd-Frank Act transferred regulatory and rulemaking authority from the OTS to the OCC, FDIC, and Federal Reserve, and reformed federal deposit insurance by increasing the maximum share insurance and requiring full insurance for noninterest-bearing transaction accounts. These changes aimed to provide for the safe and sound operation of the banking system, preserve and protect the dual banking system, ensure fair and appropriate supervision of depository institutions, and streamline their supervision and regulation.

Dodd-Frank: Title II - Orderly Liquidation Authority | Dodd-Frank: Title IV - Regulation of Advisers to Hedge Funds and Others

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11:11
Why is it taking so long for WashU to get back to me. Ppl are getting acceptances in a month or less
letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
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