Dodd-Frank act

The Dodd–Frank Wall Street Reform and Consumer Protection Act is a massive piece of financial reform legislation passed by the Obama administration in 2010 as a response to the financial crisis of 2008. Should it be repealed? What are the benefits of the program? What are assumptions that repealing could have on the economy and consumers.

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The Dodd-Frank act is short for the Dodd-frank Wall Street Reform and Consumer Protection Act. The making of this law was necessary after the 2007-2008 financial depression. It involved the complete reorganization of all matters regarding the regulation of finance. Over the years, the act has been efficient in maintaining the stability of the United States economy. This law facilitated for the control of both government owned and privately-owned financial organizations (Klein, 2017). This promoted financial stability and refunded millions of wronged nationals. Suppressive is a word used to refer to the act and as a basis for an eventual repeal. Despite the inconvenience, it,…