Here are some definitions and summaries of the Dodd Frank Act:
Wikipedia® has its own brief summaries of each section listed below with links to its summaries:
- 4.1 Title I – Financial Stability
- 4.2 Title II – Orderly Liquidation Authority
- 4.3 Title III – Transfer of Powers to the Comptroller, the FDIC, and the Fed
- 4.4 Title IV – Regulation of Advisers to Hedge Funds and Others
- 4.5 Title V – Insurance
- 4.6 Title VI – Improvements to Regulation
- 4.7 Title VII – Wall Street Transparency and Accountability
- 4.8 Title VIII – Payment, Clearing and Settlement Supervision
- 4.9 Title IX – Investor Protections and Improvements to the Regulation of Securities
- 4.10 Title X – Bureau of Consumer Financial Protection
- 4.11 Title XI – Federal Reserve System Provisions
- 4.12 Title XII – Improving Access to Mainstream Financial Institutions
- 4.13 Title XIII – Pay It Back Act
- 4.14 Title XIV – Mortgage Reform and Anti-Predatory Lending Act
- 4.15 Title XV – Miscellaneous Provisions
- 4.16 Title XVI – Section 1256 Contracts
The Senate summary version of the bill can be found here and here are its main points for its implementation:
BRIEF SUMMARY OF THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT HIGHLIGHTS
- Consumer Protections with Authority and Independence: Creates a new independent watchdog, housed at the Federal Reserve, with the authority to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and other financial products, and protect them from hidden fees, abusive terms, and deceptive practices.
- Ends Too Big to Fail Bailouts: Ends the possibility that taxpayers will be asked to write a check to bail out financial firms that threaten the economy by: creating a safe way to liquidate failed financial firms; imposing tough new capital and leverage requirements that make it undesirable to get too big; updating the Fed’s authority to allow system-wide support but no longer prop up individual firms; and establishing rigorous standards and supervision to protect the economy and American consumers, investors and businesses.
- Advance Warning System: Creates a council to identify and address systemic risks posed by large, complex companies, products, and activities before they threaten the stability of the economy.
- Transparency & Accountability for Exotic Instruments: Eliminates loopholes that allow risky and abusive practices to go on unnoticed and unregulated — including loopholes for over-the-counter derivatives, asset-backed securities, hedge funds, mortgage brokers and payday lenders.
- Executive Compensation and Corporate Governance: Provides shareholders with a say on pay and corporate affairs with a non-binding vote on executive compensation and golden parachutes.
- Protects Investors: Provides tough new rules for transparency and accountability for credit rating agencies to protect investors and businesses.
- Enforces Regulations on the Books: Strengthens oversight and empowers regulators to aggressively pursue financial fraud, conflicts of interest and manipulation of the system that benefits special interests at the expense of American families and businesses.
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