Delayed and Diluted: Dodd-Frank Second Anniversary Report
At Anniversary, Dodd-Frank Reforms Remain UnfulfilledDue to Industry Obstruction
July 20, 2012 - Two years after Congress approved the Dodd-Frank Wall Street Reform and Consumer Protection Act, many of the law’s primary provisions have yet to take effect. This delay largely results from a multi-pronged industry campaign to both weaken and delay regulations called for in the act.
Where Congress set deadlines to complete regulations to implement the law, agencies have missed their marks 79.4 percent of the time. Additionally, many rules that have been completed or are nearing completion fall short of providing the level of protection that Congress called for in the law. As a result, many of the very problems that prompted the passage of Dodd-Frank continue to endanger our economic stability.