Dodd–Frank Wall Street Reform and Consumer Protection Act Simply
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near collapse and eventual government takeover of those
entities. In an effort to address some of the issues that led to
the economic meltdown, in 2009 Frank and Sen. Chris Dodd
coauthored the Wall Street Reform and Consumer Protection Act, a
broad package of regulations and reforms of the financial
services and consumer finance industries. The bill was signed
into law the following year. Obama was able to claim another
major legislative victory, however, in July, when Congress
passed (60–39 in the Senate and 237–192 in the House) the most
sweeping financial regulation since the New Deal. Among other
statutes, the bill established a financial consumer-protection
bureau within the Federal Reserve, empowered the government to
take over and shut down large troubled... ...Americ