The History of the Dodd-Frank Act



The Great Recession




A Lack of Regulations




Protecting Workers from Securities Fraud

Financial regulations needed to change for one overarching goal: to prevent another financial collapse that would hurt the average person. This act meant that a lot of changes would need to happen, which included steps to assess the risk of certain financial institutions, to prevent them from going bankrupt.

This act also stopped many of the corrupt practices that led to the situation as it was. Predatory lending and securities fraud were all worsening the situation. As such, part of the Dodd-Frank Act was to provide protections for whistleblowers. This meant that workers could come forward about the practices their companies were engaging in.

Because of these regulations, which prevented further collapse and corruption, many Americans had the protections they needed to buy homes and seek employment. Now, banks have far stricter regulations, and the people have benefited from it.

Seeking Protection with the Dodd-Frank Act

Fortunately, this means that workers today have some protections as whistleblowers, meaning that they’re protected from retaliation if their employer tries to act. Whistleblowers have rights under the Dodd-Frank Act, and those rights still stand today.

While some action has been taken to weaken these regulations in recent years, these protections are still offered over the financial institutions that affect the average American. You shouldn’t have to worry about predatory fees and loans, and the Dodd-Frank Act should protect you and your family from these practices.