Analysis Of The Dodd-Frank Act

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The Dodd-Frank Act is 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 practices, and for other purposes (CFTC.gov, ND). The current state of the executive order that President Trump has initiated assess the federal independent financial regulatory agencies that Dodd-Frank administer. In 2008 the United States experience a financial catastrophe that affected unemployment, mortgage industry, and financial institutions. Laws regulating business conduct are passed because some stakeholders believe that business cannot be trusted to do what is right in certain areas, such as consumer safety and environmental protection (Ferrell, Fraerich, & Ferrell, 2013). This was shown with the financial crisis that happens in 2008 with the mortgage industry regarding the subprime loans. This situation was a domino effect within our economy. …show more content…
The changes that legislation wants is to abolish the Dodd-Frank established in 2010 by the Obama Administration. The House vote comes before a Treasury Department report due in the coming days that will detail the Trump administration plans for easing financial regulations (Rappeport, 2017). Can the right balance be made regarding the Dodd-Frank Act? It difficult to determine what should happen with this act. When the house and legislation are wanting to erase financial regulations. This could affect our financial institution if the regulations are erased. This puts jobs and business in jeopardy. There should be act focus on the consumers who provide business for the financial

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