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What does the Dodd-Frank Act do?

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Dodd-Frank Act of 2010 is a reform that aims to have a safer financial system for consumers and taxpayers.

The act is named after the sponsor senators, Sen. Christopher J. Dodd and Rep. Barney Frank. The events before 2007 led to the creation of this act. The financial system had lax lending regulations, resulting in a financial crisis and recession.

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