Dodd-Frank
Dodd-Frank Wall Street Reform and Consumer Protection Act
Definition
Landmark US financial regulation enacted in 2010 in response to the 2008 financial crisis. Dodd-Frank introduced sweeping reforms including the Volcker Rule, enhanced prudential standards for systemically important financial institutions (SIFIs), derivatives market reform, the creation of the Consumer Financial Protection Bureau (CFPB), and enhanced whistleblower programmes.
Regulatory Context
Dodd-Frank fundamentally reshaped US financial regulation by expanding the Federal Reserve's authority over non-bank SIFIs, mandating central clearing and exchange trading of standardised swaps, and introducing living will requirements. Some provisions have been modified by subsequent legislation.