The Heritage Foundation

Executive Summary on Regulation

April 26, 2016

April 26, 2016 | Executive Summary on Regulation

The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans

The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans grew from a shared concern among the contributing authors about the direction that financial regulation in this country has taken since the 2007–2009 financial crisis due to the regulations of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act. Rather than dealing with the causes of the crisis, Dodd–Frank exacerbated and compounded the economy’s existing ills. The resulting financial regulatory framework has restrained the economy’s recovery, introduced even more moral hazard, and expanded the number of firms that are too big to fail. The contributors to this volume have used their knowledge of the financial sectors covered by Dodd–Frank to explain problems the act creates, and to propose solutions to them. The contributors have combined their work to paint a more comprehensive picture of this deeply flawed law, and—lest the reader despair—offer proposals for improving the way the financial markets are regulated.

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About the Author

Norbert J. Michel, Ph.D. Research Fellow in Financial Regulations
Thomas A. Roe Institute for Economic Policy Studies