Preview

Dodd-Frank Wall Street Reform Summary

Good Essays
Open Document
Open Document
365 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Dodd-Frank Wall Street Reform Summary
The Dodd-Frank Wall Street Reform and Consumer Protection Act, was passed in 2010. This was the most dramatic change to banking regulations since the Great Depression. This act established a whistleblower protection program. The Dodd-Frank act provides financial incentives and employment protection for individuals who report federal securities fraud.

Labachron Suchawow was the first law office to specialize in defending federal whistleblowers. The law office uses a group of financial planners, investigators, and accountants to provide exceptional legal representation for all whistleblowers. Jordan A. Thomas is the leader of this exceptional team. Jordan A. Thomas was the former deputy director and assistant chief litigation counsel
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Sarbanes-Oxley Act of 2002 Acc 290
    • 433 Words
    • 2 Pages

    Sarbanes-Oxley Act of 2002 Acc 290

    The Sarbanes-Oxley Act (SOX) originated on July 29, 2002 due to fraudulent bookkeeping practices and misleading financial reports from large corporations. These practices created a number of accounting scandals, which resulted in this in the government creating such an act. The purpose was to prevent and punish corporate corruption and, along the way, try to repair investor confidence. The law was passed by congress after well-known companies (Enron, Peregrine Systems and Tyco International, to name a few) caused great humiliations to its investors, which in result cost them billions of dollars. The share prices of the affected companies collapsed, which shook public confidence in the nation’s securities markets.…

    • 433 Words
    • 2 Pages
    Good Essays
    Read More
  • Better Essays

    Is3350 Unit 1 Assignment 1
    • 841 Words
    • 4 Pages

    Is3350 Unit 1 Assignment 1

    This act was established to prevent publically traded company fraud. This law came to pass because of the housing and economic crisis. The only problem was encouraging employees to report the fraud. The Whistleblower Protection Act of 1989 was amended to encourage employees (U.S. Securities and Exchange Comission, 2014). Whistleblowers are employees who decide to report unethical or illegal activities (Halbert & Ingulli, 2012). The Whistleblower Protection Act provides protection from company retaliation against employees who report misconduct and fraud (National Science Foundation, 2014). The law also promises between 10 to 30 percent of any fines that are $1 million or…

    • 841 Words
    • 4 Pages
    Better Essays
    Read More
  • Powerful Essays

    Pros And Cons Of Dodd Frank Reform
    • 1644 Words
    • 7 Pages

    Pros And Cons Of Dodd Frank Reform

    The Dodd-Frank Reform The financial crisis of 2008 created one of the most uncertain times in the United States’ economy history. Not only did it affect thousands of businesses, but also consumer’s confidence dropped to levels not seen since the great depression. After the failure to address the issues created by the banks, the economy took a turn for the worse. The only way to move the economy forward was to bailout those banks and businesses that were essential to the US economy.…

    • 1644 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    The Effectiveness of Dodd-Frank Act
    • 1640 Words
    • 5 Pages

    The Effectiveness of Dodd-Frank Act

    The Dodd-Frank Legislation also known as the Dodd-Frank Wall Street reform and consumer protection act or the Dodd-Frank Act. The Dodd-Frank Act was introduced in the House of Representatives by Financial Services Committee Chairman Barney Frank, and by the Senate Banking Committee former Chairman Chris Dodd and there for named after the two men. The Dodd-Frank represents the most comprehensive financial regulatory reform measures taken since the Great Depression; in simplest terms the Dodd-Frank Act is a law that places major regulations on the financial industry. Dodd-Frank grew out of the Great Recession with the intention of preventing another collapse of major financial institutions in the U.S. The Dodd-Frank also enforces the consumer protect act which is put in place to protect barrowers from abusive barrowing and puts regulations on banks that practice these bad habits.…

    • 1640 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Better Essays

    The Sarbanes-Oxley Act
    • 1327 Words
    • 6 Pages

    The Sarbanes-Oxley Act

    The Sarbanes-Oxley Act of 2002(SOX which is also known as the Public Company Accounting Reform and Investor Protection Act was enacted in July, 30, 2002 as a prompt response to the financial crimes scandals (Adelphia, Enron, WorldCom, Peregrime Systems , Arther Anderson and Tyco International). SOX establishes new, stricter standards for all US publicly traded companies. It does not apply to privately companies. The Act is administered by the Securities and Exchange Commission (SEC), which deals with compliance, rules and requirements. The Act also created a new agency, the Public Company Accounting Oversight Board, or PCAOB, which is in charge of overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies. In my opinion, the benefits of the act cant be able to overcome the frustration and the cost of it.…

    • 1327 Words
    • 6 Pages
    Better Essays
    Read More
  • Good Essays

    Dodd Frank Consumer Protection Act
    • 489 Words
    • 2 Pages

    Dodd Frank Consumer Protection Act

    In 2010 President Obama passed a consumer protection act formally titled the “Dodd-Frank Wall Street Reform and Consumer Protection Act.” This act was passed after the 2008 financial crisis to try to “promote the financial stability of the United States by improving accountability and transparency in the financial system,” and to put an end to ‘‘too big to fail’’ banks. Although the act was built on good intentions, Dodd-Frank has accomplished little of its intended purposes, and has only followed through in ways damaging to consumers.…

    • 489 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    The Sarbanes-Oxley Act
    • 1136 Words
    • 5 Pages

    The Sarbanes-Oxley Act

    The Sarbanes-Oxley Act is named after two Senators who were considered the architects of the act and setting into motion the deadlines for compliance with it. These Senators were Paul Sarbanes and Michael Oxley.…

    • 1136 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    The Sarbanes-Oxley Act
    • 1677 Words
    • 7 Pages

    The Sarbanes-Oxley Act

    The Sarbanes-Oxley Act was enacted on July 2012 under the administration of President George W. Bush. The passage of this law was a reaction to a number of major corporate and accounting scandals that included Enron, Tyco International, WorldCom and Adelphia. What the myriads of corporate scandals have in common was skewed and questionable reporting of financial transactions that cost investors billions of dollars. Stock prices of these companies collapsed and questioned the confidence of the independent auditors and the Securities and Exchange Commission (SEC) were questioned. Commonly referred to as Sarbox or SOX, the Act was named after the…

    • 1677 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    The Dodd-Frank Reform
    • 348 Words
    • 2 Pages

    The Dodd-Frank Reform

    The Dodd-Frank Reform was passed in 2010. The purpose of this legislation is to change risky lending practices. One of the causes of the 2007 financial crisis was the high volume of high risk loans that were being bought and sold by financial institutions. The Dodd-Frank Reform would prevent financial institutions from issuing predatory and high risk loans.…

    • 348 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    The Sarbanes-Oxley Act
    • 1115 Words
    • 5 Pages

    The Sarbanes-Oxley Act

    The Sarbanes-Oxley act was enacted in 2002 following corporate financial scandals like those involving Enron and WorldCom. The act was created in order to combat corporate accounting fraud and enhance the quality of corporate financial disclosures. To accomplish this, the act created the "Public Company Accounting Oversight Board", or PCAOB to oversee audits and compliance.…

    • 1115 Words
    • 5 Pages
    Better Essays
    Read More
  • Better Essays

    Dodd Frank Act
    • 2542 Words
    • 11 Pages

    Dodd Frank Act

    Since the financial crisis of 2008 many things have changed in the ways of how our government works, the way people run a business, and even the way people live their lives. Although some people may blame these events on former President George W. Bush or current President Barack Obama, much of the changes that have occurred have been from a single act, the Dodd-Frank Act. The Dodd-Frank Act, which was implemented after the financial crisis that occurred in 2008, is designed to keep businesses and firms honest.…

    • 2542 Words
    • 11 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Economics Quiz
    • 899 Words
    • 4 Pages

    Economics Quiz

    Which of the following is not one of the four primary public policy objectives furthered by laws and regulations applicable to U.S. business?…

    • 899 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Dodd-Frank Wall Street Reform Research Paper
    • 407 Words
    • 2 Pages

    Dodd-Frank Wall Street Reform Research Paper

    The Consumer Finance Protection Bureau (CFPB), Who they are, What they do, and How they were developed…

    • 407 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    The Dodd-Frank Act
    • 853 Words
    • 4 Pages

    The Dodd-Frank Act

    Its an oftenly stated human cliché to never feel “Too Big for ones own boots.” However cliches only seem to gain there momentum in the wake of a crisis. A company at its prime which could not have dared to be looked at with disdaining eyes had finally crumbled. The Lehman brothers resilience has to credited towards the strive that was taken to open operations on a daily basis in the mast of a world financial criss in 2008, however whether that can be attributed towards a wholehearted desire to keep the company afloat or the sheer power of human greed is a debate left for another occasion.…

    • 853 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    The Dodd-Frank Act
    • 1636 Words
    • 7 Pages

    The Dodd-Frank Act

    This topic of discussion focuses on the Dodd-Frank Act and how it came into existence? Those who were affected by the law, to include the Acts forced regulations on all U.S. financial institutions, private hedge funds, government controlling, compliances, and its protection. The Dodd-Frank Wall Street Reform and Consumer Protection Act, now called The Dodd-Frank Act is a U.S. federal mandated law, one in which was created by the Obama administration and signed into federal law on July 21, 2010. The Act was implemented partly due to the financial crisis of 2008. According to USA government “The Act was created to place regulations on the financial industry that government controls.” The agency created was the Financial Stability Oversight Council,…

    • 1636 Words
    • 7 Pages
    Powerful Essays
    Read More

Related Topics