Dodd-Frank Act (Dodd-Frank)
The 2010 US Dodd-Frank Wall Street Reform and Consumer Protection Act, passed after the financial crisis to reshape financial regulation.
Overview
Dodd-Frank created the Consumer Financial Protection Bureau and the Financial Stability Oversight Council, introduced the Volcker Rule, brought most swaps under CFTC and SEC oversight, tightened prudential standards for large banks and established the UDAAP standard for consumer finance.
Much of its effect comes through the hundreds of rules agencies wrote under it, many of which are still amended today.
As primary legislation it is binding law; regulators fill in and interpret its detail through rules, guidance and supervisory practice. The authorities most closely connected to it are CFPB, CFTC and Fed.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
It remains the backbone of post-crisis US financial regulation.
Who it affects
US banks, non-bank lenders, swap dealers, investment advisers and consumer finance companies.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to Dodd-Frank. Select one to open it.
What to do about it
- 1Confirm whether you are in scope: who it covers, which activities and where.
- 2Break it into testable requirements.
- 3Map each requirement to a control and an owner.
- 4Track amendments, implementing rules and guidance.
- 5Keep sealed evidence for every control run.
From requirement to evidence.
Dodd-Frank is tracked as a layer-one statute linked to every rule written under it.
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