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The President Signed Wall Street Reform 5 Years Ago Today. Read What the President Signed and Learn What Happened Next:
“Dodd-Frank” is shorthand for the Wall Street Reform and Consumer Protection Act, whose chief co-sponsors on Capitol Hill were Senator Chris Dodd and Representative Barney Frank. These reforms -- which the President signed into law exactly five years ago today -- represent some the most sweeping financial reforms made since the Great Depression.
The President’s still working to protect American consumers; keep our markets safe, open, and fair; and provide a foundation for strong economic growth. We’re making new rules to make sure your retirement advisor is working in your best interest, we’re protecting our service members and their families from predatory lenders, and we’re making sure our financial institutions can stand up to the toughest conditions the market has to offer through annual stress tests. We’re finishing the financial reform work that Dodd-Frank started, and we’ll stand up against any efforts to roll it back.