TheDodd-Frank Wall Street Reform and Consumer Protection Act was signed into law (Public Law 111-203) by President Barack Obama on July 21, having been approved by the House (237-192) on June 30 and by the Senate (60-39) on July 15.
This Is Just the Beginning
Dodd-Frank has left a great deal of its implementation and fine-tuning up to the regulators. Commentators estimate that it requires more than 24 rules and regulations to be prepared and promulgated in the consumer area alone, and more than nine studies and reports to be done. Consequently, the lobbying and other related efforts will now shift toward this process, with the objective of helping to improve the position of those who are unhappy with the current statutory language and impact.
So Where Did We Wind Up?
