Question

The _____ was called ""a sweeping overhaul of the financial regulatory system…on a scale not seen since the reforms that followed the great depression.""

Answer 1

The Dodd-Frank Wall Street Reform and Consumer Protection Act was called "a sweeping overhaul of the financial regulatory system…on a scale not seen since the reforms that followed the great depression."

What is Dodd-Frank Wall Street Reform and Consumer Protection Act?

• Dodd-Frank Act The Wall Street Reform and Consumer Protection Act, also known as Dodd-Frank, is a federal law adopted in the United States on July 21, 2010.
• In the aftermath of the Great Recession, the bill restructured financial regulation, affecting all federal financial regulatory agencies and nearly every aspect of the nation's financial services business.
• In response to broad calls for improvements to the financial regulatory system, President Barack Obama proposed a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression" in June 2009.

As it is given in the description itself, in response to broad calls for improvements to the financial regulatory system, President Barack Obama proposed a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression" in June 2009.

Therefore, the Dodd-Frank Wall Street Reform and Consumer Protection Act was called "a sweeping overhaul of the financial regulatory system…on a scale not seen since the reforms that followed the great depression."

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