Name the departments, offices, or agencies that were created by the Dodd–Frank legislation.

Expert Solution

The Dodd-Frank legislation officially became a law in year 2010 that aimed to put restrictions on the financial industry and created certain programs in a bid to stop unfair mortgaging activities country. It is majorily a wall street reform. The act was a result of the 2008 financial crisis due to which the banks were required tcreate plans in case they run out of cash. The banks were also made to follow a stress test each year conducted by the Federal reserve.

The Financial Stability Oversight council was made to identify the risks and keeping them in check.

The consumer financial protection bureau was to protect the consumers from the malpractices in the banking sector. They were to oversee all the risky investments by the banks.

The Office of Credit ratings was to chack the viabile credit ratings. Moreover suitable whistle blower arrangements were also made and thus rewards were also announced.

jeff jeffy answered 1 year ago

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