What was the main focus of the Gilded Age in U.S. history? 🔊
One of the notable results of the 2008 financial crisis was the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. This legislation aimed to address the issues that caused the crisis, including the lack of regulatory oversight of financial institutions and risky lending practices. Dodd-Frank introduced various reforms, such as increased transparency in financial markets, the establishment of the Consumer Financial Protection Bureau (CFPB), and stricter regulations for banks to ensure they maintain sufficient capital reserves. The law sought to protect consumers from abusive financial practices and to prevent a similar economic collapse in the future, reshaping the financial regulatory landscape in the U.S.
Equestions.com Team – Verified by subject-matter experts