The Dodd-Frank Act
Who created the Dodd-Frank Act?
Christopher Dodd and Barney Frank.
Who does it benefit?
CONSUMERS!!!
Which president enacted the Dodd-Frank Act?
President Barack Obama
What year is it?
2025
When was it passed? (provide exact date)
July 21, 2010
What does it stop the government from doing for the banks?
Bailing them out
What bubble popped in 2008?
The housing bubble
How many presidents have there been?
45
What is the name of the bureau that was created?
Consumer Financial Protection Bureau (CFPB)
Why were banks thought to be invincible?
Too big.
What did Trump do in regards to the act?
He made the act less of a burden on smaller banks.
Name a top 3 most famous people ever.
Muhammad
The Buddha
Isaac Newton
What is the secondary purpose of the Dodd-Frank Act?
Ensure fair lending practices and makes sure that you know exactly what you are getting into with full transparency.
What are some abusive tactics it prevents with credit cards?
Hiking up rates on balances or preventing people from understanding how their cards work
List some effects of the 2008 Financial crash
Global recession
Job Loss
Stock Market Crash
Name a song in top 15 of the Billboard's Hot 100 that is NOT from Taylor Swift.
Golden
Ordinary
Daisies
What is the primary purpose of the Dodd-Frank Act?
Prevents banks from making risky investments with your money.
How does this hurt small banks?
The act was more of a one-size-fits-all type of thing, causing them to struggle with compliance costs and gain footing
List the causes of the 2008 financial crisis.
Mortgages being issued to people with low credit scores
Deregulation in the financial industry
Bundles of high-risk loans being sold, spreading the problem
Name everybody's last name
do it