Dodd-Frank Wall Street Reform and Consumer Protection Act Law and Legal Definition

Dodd-Frank Wall Street Reform and Consumer Protection Act, signed by President Obama on July 21, 2010 is consumer financial protection legislation. Transparency is the hallmark of the Act. It brings transparency to the kinds of complex, risky transactions that help trigger financial crisis.

The aim of the Act is to promote financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.