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The Dodd-Frank Act

by Edward Alden
July 24, 2012

Chairman of the Federal Reserve Ben Bernanke and Chairman of the President's Economic Recovery Advisory Board Paul Volcker (R) testify before the U.S. House Financial Services Committee on Capitol Hill in Washington on March 17, 2010 (Larry Downing/Courtesy Reuters). Chairman of the Federal Reserve Ben Bernanke and Chairman of the President's Economic Recovery Advisory Board Paul Volcker (R) testify before the U.S. House Financial Services Committee on Capitol Hill in Washington on March 17, 2010 (Larry Downing/Courtesy Reuters).

The 2010 Dodd-Frank Act was one of the most significant financial regulatory reform measures since the Great Depression.  In the wake of the financial crisis, it sought to give regulators new tools to limit risky behavior and address systemic risk.  After two years, its implementation is still ongoing; many major rules have not yet been written.

In this CFR Backgrounder, The Dodd-Frank Act, Renewing America contributor Steven J. Markovich examines the financial oversight bill, and the debate over its methods, goals, and implementation.

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