The DoddFrank Act introduced regulatory reforms post the 2008 financial crisis from "summary" of Financial Markets and Institutions, Global Edition by Frederic S. Mishkin,Stanley G. Eakins
Following the devastating financial crisis of 2008, the United States government took action to prevent such a catastrophe from happening again. One of the key measures implemented was the Dodd-Frank Act, which aimed to introduce significant regulatory reforms to the financial system. The Act was named after its sponsors, Senator Christopher Dodd and Representative Barney Frank, and was signed into law by President Barack Obama in July 2010. The Dodd-Frank Act was a comprehensive piece of legislation that sought to address the weaknesses and gaps in the regulatory framework that had contributed to the financial crisis. One of the primary objectives of the Act was to enhance the stability and resilience of the financial system by imposing stricter regulations on financial institutions. This included measures such as increasing capital requirements for banks and other financial firms to ensure they had an adequate buffer to withstand financial shocks. In addition to strengthening the regulatory oversight of...
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