Frank wall street reform and consumer protection act

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Reference no: EM132179665

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“DFA”), enacted in July 2010, seeks to prevent financial crises like the one that so severely impacted the economy in 2008. Among other things, it required creation of about 400 new rules meant to promote transparency / limit risk within the financial services industry.

Since enacted, DFA has been heavily criticized. Some critics of DFA argue that the regulations may hurt economic growth and are misdirected and in fact, the law is too big not to fail. To that end, the Bipartisan Banking Act of 2018 has been enacted to address some of the DFA deficiencies.

1. Research one of the rules proposed/adopted under DFA that will apply to all [including those with assets under $1 Billion] Commercial Banks and summarize its requirements. Do not use a rule that has already been chosen by someone else in the class.

2. Summarize how this rule is intended to achieve the objective of preventing another financial crisis and comment on whether you agree that the rule could achieve this intended purpose. If you agree, why, and if not, why not?

Reference no: EM132179665

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