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Dodd-Frank Act Signed By President Obama
July 21, 2010
FEI Summary
On Wed., July 21, 2010, President Barack Obama signed the “Dodd-Frank Wall Street Reform and Consumer Protection Act” (HR 4173) into law. While many of the reforms will not take effect immediately, it is important for financial executives to begin reviewing potential impacts of the bill.
The full bill text can be found here. There is expected to be a lengthy rulemaking process by several federal agencies implementing the hundreds of new regulations required in the bill. There will also be upwards of 55 required studies and nine new federal agencies or offices created as per provisions in the bill. The House Financial Services Committee has released this summary of the bill.
The following are links to FEI resources analyzing some of the potential impacts of the major financial regulation overhaul, organized by topic:
1. Bank Charges
2. Accounting and SEC-related issues
3. Credit Ratings Agencies
4. Hedging
5. Pensions
FEI’s Committee on Corporate Treasury has been following this debate for more than a year now and has played a role in helping to educate members of Congress and their staffs as well as regulatory officials on potential impacts of the legislation.
Prepared July 21, 2010, by Cady North (cnorth@financialexecutives.org), manager of Government Affairs, Financial Executives International (FEI). This summary does not represent FEI opinion unless specifically noted above.
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