By Nish Amarnath February 3, 2013
In the summer of 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law was designed to put new limits on the banking sector and reduce the odds of another financial crisis.
Two and a half years later, most of the new financial rules the act mandates haven’t been issued. (As of December, fewer than half its 236 provisions had been approved by regulators.) Regulators say the delays stem from the sheer volume and complexity of the issues.
The Government Accountability Office issued a report last week on the challenges regulators face in making in these new rules and raised concerns over some that have already been issued.
Here is an update on some of the Dodd-Frank rules and where regulators stand with them:
This entry was posted on Sunday, February 3rd, 2013 at 9:04 pm. It is filed under Tools & Resources and tagged with banks, CFPB, cftc, Dodd-Frank, fdic, fed, regulation, SEC. You can follow any responses to this entry through the RSS 2.0 feed.
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