Wednesday, January 9, 2013

From American Banker: Dodd-Frank Remains

Dodd-Frank Remains a Troubled Work in Progress

It has been more than five years since the financial crisis began and more than two years since the passage of the legislative response, the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The nature and magnitude of the effects of the largest piece of financial legislation in generations will become clearer as regulators exercise the broad discretion given them under the act. Regulators' efforts at implementation are far from complete, with many of the rules still unwritten and others not yet in effect. Regardless of how the rules are written, the act will certainly have far-reaching effects on the financial system and our economy.

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