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Financial Reform Brings New Consumer Protections

Author

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  • Amy Lempert

Abstract

On July 21, 2010, President Barack Obama signed into law the Dodd?Frank Wall Street Reform and Consumer Protection Act. The full title of this sweeping legislation suggests its breadth: ?An act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ?too big to fail,? to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services, and for other purposes.? The act, which contains 16 sections or ?titles,? touches almost every aspect of the financial services industry and is ?arguably the most substantial financial regulatory reform legislation since the 1930s.?

Suggested Citation

  • Amy Lempert, 2011. "Financial Reform Brings New Consumer Protections," Cascade, Federal Reserve Bank of Philadelphia, vol. 1, January.
    • Handle: RePEc:fip:fedpca:0001
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    Keywords

    Frank Dodd; Financial reform;

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