Question

my question is what type of other implications did the dodd-frank act have on wall street? please add more specific details. thank you.

Implications on Wall Street The Act heavily focuses on keeping an eye out on Wall Street. If there are any implications or if a firm seems to be getting too big, it will then be turned for closer inspection and monitoring. The Act forces banks to have more of their money on deposit with the reserve. By doing so, this ensures that in case of a bank failure, there are enough funds with the Federal Reserve to help minimize the impact of the bank failure. Implications on Corporations to the Federal Reserve Dodd-Frank created a new Federal Insurance Office under the Treasury Department It identifies insurance companies that create a risk for the entire system like the American International Group Inc. did. It also gathers information about the insurance industry. In 2014, it reported the impact of the global reinsurance market to Congress. The FIO makes sure insurance companies don't discriminate against minorities. It represents the United States on insurance policies in international affairs. Present Day Views on Act The current administration has vowed to dismantle the Dodd Frank Act as they believe the Act prevents economic growth. In May of 2018 the act was significantly limited by the U.S. House of Representatives with the purpose to reduce the limitations the Dodd Frank Act. The 8 led the Economic Growth, Regulatory Relief and Consumer Protection tions that were placed by the Dodd Frank Act on small and ect reduces asset limita I banks eliminated that limitation ional n, allowing banks to increase their asset threshold. ho neds o e done, 9 aus but mu e ol low e he a re ceShor) んmen s

Answer 1

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