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Thursday, May 19, 2011

The Dodd-Frank Wall Street Reform and Consumer Protection Act — signed into law by President Obama on July 21, 2010 — will likely revolutionize the country’s financial system. The sweeping legislation is the most far-reaching financial reform since the Great Depression, touching virtually every corner of the financial world.

The new law is designed to help shield consumers from abusive financial practices, protect taxpayers from funding bailouts for institutions considered “too big to fail,” and improve accountability and transparency in the financial system.


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