• Dodd-Frank at One Year: An Updated Overview
  • August 3, 2011
  • Law Firm: SNR Denton - Chicago Office
  • On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") into law. On Dodd-Frank’s first anniversary, the Bureau of Consumer Financial Protection (“CFPB”) commenced operations without a permanent Director in place. As many had expected, the process of promulgating and implementing rules for Dodd-Frank has bogged down significantly, given the huge number of rules that must be written and the many studies and reports that must be prepared as part of the implementation process. A number of those delayed rules were supposed to have been issued and become effective on or before July 21, 2011.