In an effort to restore consumer confidence while laying a foundation for future economic security, the Dodd-Frank Wall Street Reform and Consumer Protection Act seeks to put systems and laws in place to prevent the likes of our recent economic crisis from ever happening again.
But what does it mean for you, the consumer? As a Member of the Top 5 in Real Estate Network®, I am committed to keeping you informed by breaking down government programs and laws into the facts you need to know. Passed on June 29, 2010, the Act represents one of the most far-reaching changes to financial regulation and oversight since the Great Depression. Here are the highlights of the Dodd-Frank Act as provided by the United States Senate Committee on Banking, Housing & Urban Affairs: Continue reading