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Simple English definitions for legal terms

Dodd-Frank: Title XI - Federal Reserve System Provisions

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A quick definition of Dodd-Frank: Title XI - Federal Reserve System Provisions:

Dodd-Frank: Title XI is a law that makes changes to the Federal Reserve System, which is like the bank for the United States. The law allows the government to check on the Federal Reserve's operations and make sure they are doing things right. It also lets the Federal Reserve give emergency loans to banks, but only if the banks have enough security to pay back the loan. The law also creates a new position called the Vice Chairman for Supervision, who helps make sure the Federal Reserve is doing a good job. Overall, the law helps make sure the Federal Reserve is being responsible and not taking too many risks that could hurt the economy.

A more thorough explanation:

Definition: Title XI of the Dodd-Frank Wall Street Reform and Consumer Protection Act addresses changes to the Federal Reserve System. It allows greater supervision of the Federal Reserve's operations by allowing the Comptroller General of the United States to audit the Federal Reserve Board, banks, and credit facilities. It also allows the Board to establish a guarantee program for emergency loans and makes changes to governance and positions.

Example: One provision of Title XI is that the Comptroller General of the United States can audit the Federal Reserve Board, banks, and credit facilities. This means that an independent auditor can review the operations of the Federal Reserve to ensure that they are following proper procedures and not engaging in any inappropriate activities.

Explanation: The example illustrates how Title XI allows for greater supervision of the Federal Reserve's operations by allowing an independent auditor to review their activities. This helps to ensure that the Federal Reserve is acting in the best interests of the public and not engaging in any activities that could harm the economy or financial markets.

Dodd-Frank: Title X - Bureau of Consumer Financial Protection | Dodd-Frank: Title XII - Improving Access to Mainstream Financial Institutions

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llama
14:59
^^^
VolatileClumsyAcolyte
15:01
CLS is my dream school and the only reason I am considering reapplying is to probably score higher and have better chances there, so fingers crossed they're chill about it
llama
15:05
with that targeted goal/ willingness to take a year to improve score, and from what you have said, it seems like a great option to reapply early next cycle w/ a higher score. best of luck!
InsipidLemon
15:09
guys is there any chance for me to get into T14s? I applied to some but was convinced to apply to the rest, just feel its too late in the cycle for my stats (170 3.68)
KnowledgeableRitzyWasp
15:13
@InsipidLemon: https://www.lsd.law/search/zdJvM
KnowledgeableRitzyWasp
15:13
more likely than not you make it into at least one t14
InsipidLemon
15:14
Hey long time no see hahaha, the prob with that is it has the range of up to 172, Im only 170
InsipidLemon
15:14
If u have the top range at my stats, there's only like 9 ppl who made it into T14s
KnowledgeableRitzyWasp
15:15
yeah but it's also including people below your stats
InsipidLemon
15:15
Yeah, really my issue is deciding whether to R&R or to just take UF law
KnowledgeableRitzyWasp
15:16
also if you reduce the top end of lsat to 170, you have a 33% chance at NYU+columbia, 67% at NU, 33 at mich, 40% berk, 40% UCLA, 100% Cornell, and 50% gulc
KnowledgeableRitzyWasp
15:16
realistically you would make it into at least one
InsipidLemon
15:16
I'm still waiting on a bunch of T14 so hopefully those stats are a good indicator
llama
15:16
idk wait it out - if good offer take if no good offer R&R
KnowledgeableRitzyWasp
15:16
i dont think you need to R&R im pretty sure you make it into at least one t14
KnowledgeableRitzyWasp
15:16
but if you apply earlier its just a lot easier
InsipidLemon
15:17
thats odd I didn't see those stats, but ok. We talked abt this awhile back and I'm working on Columbia + Berkeley rn then Cornell, probs is I'm not gonna produce good Why X's before the 25th but whatever
KnowledgeableRitzyWasp
15:18
https://www.lsd.law/search/cV9E6 this is artificially deflated because it's only below your stats
KnowledgeableRitzyWasp
15:19
someone got into harvard and chicago with your stats
InsipidLemon
15:19
Why is that deflating it? isnt that a better indicator instead of choosing above median LSATs? Genuinely curious just wondering
KnowledgeableRitzyWasp
15:20
when stats are close because of the variability you want a little above your stats and a little below to get more data, adcoms arent so finnicky that 2 points on the lsat is make or break unless it puts you above median, and even then 50% are below median so it's not as big of an impact as you might think. the reason the chanceme tool goes a little above and below your stats by default is to capture a more accurate picture
KnowledgeableRitzyWasp
15:21
ie your softs/WE/essays might make you more or less competitive than any random applicant and the best way to account for that is to take a little above and a little below
InsipidLemon
15:21
got it, I was of the mindset that medians are pretty concrete so taking a +2 LSAT score range was just giving me irrelevant data. Thank you
InsipidLemon
15:21
Def my softs/essays are the strongest part of my application so hoping they shine through
KnowledgeableRitzyWasp
15:21
they kind of are but you see with the data here is doesnt really change your chances going from 172 to 170
KnowledgeableRitzyWasp
15:22
yeah youll be in a good place for this cycle
InsipidLemon
15:22
yeah I guess thats true, I've also been looking at "Included" not "Only" for URM so maybe that's a diff too
InsipidLemon
15:22
Appreciate it man!
KnowledgeableRitzyWasp
15:23
yeah included is giving you data for nURM which isnt relevant for your cycle
KnowledgeableRitzyWasp
15:23
and ofc, good luck :)
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