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At the same time, congressional Republicans opened their own front against the Dodd-Frank Act, the law that overhauled financial regulation after the 2008 financial crisis. And with Mr. Trump in the White House, Republicans who previously challenged Dodd-Frank now see success in their sights after years of futility.
The full name of the bill is the Dodd-Frank Wall Street Reform and Consumer Protection Act, but it is better known and most often referred to as Dodd-Frank. In simple terms, Dodd-Frank is a law that places major regulations on the financial industry.It grew out of the Great Recession with the intention of preventing another collapse of a major financial institution like Lehman Brothers.n simple terms, Dodd-Frank is a law that places major regulations on the financial industry. It grew out of the Great Recession with the intention of preventing another collapse of a major financial institution like Lehman Brothers.