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Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) - which among other things created the Consumer Financial Protection Bureau and put in place the Volcker Rule which forbids banks from making certain risky investments with depositors money. To give you an idea of the power of the Volcker Rule, when it went in place banks begged (and got) a 5 year delay to divest for investments that violate the rule. Yeah, banks were playing fast-and-loose with with the money you deposited in your checking and savings accounts for their own gain. The Volcker Rule stopped (most) of that.
Didn't Dodd-Frank get gutted a bit in recent years?
Parts of it were repealed in 2018 under trump and the Republicans.
I don't know what the effects of the rollback were.
Yeah, Dodd occurred to me but I had vague recollections of a recent gutting as well.
This is such a cope, we had glass steagall.. we had everything from this dodd frank already but decided only parts of it were worthwhile. It only took the fucking 2008 crash to decide we need 'some' oversight of banking speculation. We STILL dont have something to replace glass steagall. To say that dodd frank is good is like having diharhea in your bed wiped off and calling it clean.