WSRA Framework
CategoryFinancial Market Regulation
Wall Street Reform and Consumer Protection Act (WSRA) (a.k.a. Dodd-Frank) is a US federal law enacted in 2010 that reorganized the entire financial regulatory system to improve stability and protect consumers against major adversities of a potential financial crisis.
Financial Stability Monitoring
Financial Stability and Consumer Protection
WSRA (commonly referred to as Dodd-Frank) is the US law that overhauled financial regulation in the aftermath of the financial crisis of 2007-2008.
WSRA created the Consumer Financial Protection Bureau (CFPB), the Office of Financial Research (OFR) and some other federal agencies in an effort to streamline the regulatory process, promote transparency, and increase oversight of specific institutions regarded as a systemic risk — by enforcing principles evolved as PFMI and other standards.
Key provisions of Dodd-Frank include monitoring financial stability of major financial firms, preventing predatory mortgage lending, limiting speculative and proprietary trading, and establishing Securities and Exchange Commission (SEC) Office of Credit Ratings (OCR) charged with ensuring that the accredited agencies provide meaningful and reliable credit ratings of the entities they evaluate.
The Economic Growth, Regulatory Relief and Consumer Protection Act of 2018 eased the regulations imposed by Dodd-Frank to improve US firms' competitiveness.
