Chapter
The History and Legacy of the Dodd-Frank Act
02:46 - 07:46 (05:00)
The Dodd-Frank Act was a sweeping set of financial reforms that was enacted in response to the 2008 financial crisis, with the goal of ensuring that banks would have high levels of financial stability and intense federal supervision. The crisis stemmed from the housing market crash, which revealed that many of the country's biggest banks had invested heavily in mortgages and mortgage-backed securities.
Clips
The Dodd-Frank Act was established to ensure that banks would maintain high levels of financial stability, particularly during a financial crisis, by enforcing federal supervision and other requirements for the 30 largest banks in the country.
02:46 - 07:46 (05:00)
Summary
The Dodd-Frank Act was established to ensure that banks would maintain high levels of financial stability, particularly during a financial crisis, by enforcing federal supervision and other requirements for the 30 largest banks in the country. The act was enacted following the financial crisis from a downturn in the housing market, which revealed that many of the country's largest banks had invested extensively in the housing market through mortgages and mortgage-backed securities.