Dodd-Frank Wall Street Reform and Consumer Protection Act

A set of federal regulations passed in 2010 with the intention of preventing a recurrence of the events that caused the 2008 financial crisis by creating financial regulatory processes that enforce transparency and accountability while protecting consumers and taxpayers. “Dodd-Frank,” as it is often called, is named after Sen. Christopher J. Dodd and Rep. Barney Frank, who were largely responsible for its creation and passage.