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Dodd-Frank Act and Consumer Protection

Find (e.g., from the New York Times, Wall Street Journal, Economist, Bloomberg, any of the Federal Reserve Banks) on the Dodd-Frank Wall Street Reform and Consumer Protection Act. Post copy of the article - you must turn it in to receive full credit. After reading the article, write a concise and to-the-point essay that includes:

A. A summary of the article.

B. Explain how the article helped you to understand Dodd-Frank Act (or an aspect of it) more clearly. That is, write as if you are explaining to your fellow classmates why the article is worth reading- what are they going to get out of it?

Solution Preview

The chosen NY Times article is attached.

In this article it is stated that the legislators in the senate are divided during the application of the The Dodd-Frank Wall Street Reform and Consumer Protection Act and regulators are ignoring the congressional intent. Even the Volcker Rule which seems like a simple rule that prohibits banks in engaging proprietary trading is composed of 298 pages prepared by the regulators. Rules are very complex when it comes to application such as "skin in the game" rules for mortgage which proposes that lenders who sell mortgages to investors should retain some of the risk. Thus there should be exceptions that ...

Solution Summary

This solution discusses the Dodd-Frank Act with regards to Wall Street, and consumer protection.