Dodd-Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010, is a landmark piece of United States federal legislation designed to prevent a recurrence of the 2008 financial crisis by promoting financial stability, ending "too big to fail," and protecting consumers from abusive financial practices. It fundamentally reshaped the regulatory landscape by creating new agencies, such as the Consumer Financial Protection Bureau (CFPB), and implementing sweeping reforms across nearly every part of the financial services industry.