The Dodd-Frank Act – Background, Highlights and Impact

• By: Staff Editor
• Date: July 07, 2009

The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into law by President Barack Obama on July 21, 2010. The Act, which was passed as a response to the late-2000s recession, represents a significant change in the American financial regulatory environment. It affects all Federal financial regulatory agencies and almost every aspect of the nation's financial services industry.

This article discusses the background to the Act, its significant provisions and impact on the banking and financial services industry.