Financial Reform Watch

Finale - President Obama Signs the Dodd Frank Wall Street Reform and Consumer Protection Act into Law

Earlier today, President Obama signed into law the Dodd Frank Wall Street Reform and Consumer Protection Act—marking the completion of the legislative road and the beginning of the regulatory road for the financial reform bill that is now the law of the land.

In his remarks at the bill signing, the president thanked congressional leaders, praised the effort, and described the package as a "...set of reforms to empower consumers and investors, to bring the shadowy deals that caused this crisis into the light of day, and to put a stop to taxpayer bailouts once and for all."

The 2,300 page bill now falls into the hands of the Treasury Secretary and other financial regulators to execute. In the coming days and weeks, Financial Reform Watch will be "watching" for many things including whom the president nominates to be the head of the new Consumer Financial Protection Bureau; when the first meeting of the Financial Stability Oversight Council will be scheduled; and which proposed rules begin to flow from the financial regulators tasked with implementing the mandates of the Dodd Frank Act.

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Comments (3) Read through and enter the discussion with the form at the end
steve gatter - July 21, 2010 7:53 PM

Where can I access a copy of the complete bill?


Laura S - July 23, 2010 10:05 PM

I am happy with the new financial reform bill. It is long overdue. Some of the exemption I am too thrilled about. Why are automobile dealership exempt? Car salesmen are some of the worse crooks on this planet. True, they did not cause the housing crisis and the foreclosure mess we find ourselves in. But many tales can be told about unethical car salesmen.

Danielle Von Tungeln - September 20, 2010 10:11 AM

Isn't it wonderful! Another consumer protection law written by and for the very institutions who did cause the current crisis. If this peice of garbage is as concerned about the letter of law as to what constitutes daylight robbery when it comes to real estate transactions, the American Dream will revive and prosper. I am not so sure if there were any used car salesmen involved in the fraud that I have reported, maybe one or two, but there certainly were Title Companies, Wholesale Lenders, and even county clerks! Another worthless protection agency that employees more worthless government bodies is needed. Like we all need another one of those? I'll take a used car lot anyday. At the very least, you know who that salesman is, right?

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