- Summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act
- July 16, 2010
- Law Firm: Bingham McCutchen LLP - Boston Office
The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Bill”) was approved by the House on Wednesday, June 30. The Senate vote is not expected until mid-July, and the outcome there is uncertain.
The Bill covers almost every aspect of financial regulation, and analysis of its practical implications is in the relatively early stages. Implementation of the Bill will require an extraordinary amount of rulemaking and regulators are given significant discretion. If the Bill passes, amendments will likely follow. Consequently, even if enacted, the final shape and practical impact of the Bill are in many respects still to be determined. Bingham attorneys will continue to monitor developments on behalf of our clients as the process unfolds.
Our summary of the Bill, which is based on the House-Senate conference committee report as voted on by the House, can be downloaded below for your review. This summary is intended to outline the basic structure of the Bill and to highlight selected provisions. The summary is broken into categories, with reference in each category to the relevant title(s) of the Bill. Each catergory can be accessed directly through links in the table of contents. Certain parts of the Bill impact more than one category; in some of those cases (such as with the Volcker Rule), we have included summaries of the relevant provisions in more than one category where appropriate.