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Legislation mandating additional reductions

The method of capitalization is by collecting risk-based assessment fees on any "eligible financial company" – which is defined as "[...] any bank holding company with total consolidated assets equal to or greater than billion and any nonbank financial company supervised by the Board of Governors".

The severity of the assessment fees can be adjusted on an as-needed basis (depending on economic conditions and other similar factors) and the relative size and value of a firm is to play a role in determining the fees to be assessed.

As a practical matter, prior to the passage of Dodd–Frank, investment advisers were not required to register with the SEC if the investment adviser had fewer than 15 clients during the previous 12 months and did not hold itself out generally to the public as an investment adviser.

The Treasury Secretary is Chair of the Council, and the Head of the Financial Research Office is a Presidential appointment with Senate confirmation.

In taking action under this title, the FDIC shall comply with various requirements: To the extent that the Act expanded the scope of financial firms that may be liquidated by the federal government, beyond the existing authorities of the FDIC and SIPC, there needed to be an additional source of funds, independent of the FDIC's Deposit Insurance Fund, to be used in case of a non-bank or non-security financial company's liquidation.

The Orderly Liquidation Fund is to be an FDIC-managed fund, to be used by the FDIC in the event of a covered financial company's liquidation Initially, the Fund is to be capitalized over a period no shorter than five years, but no longer than ten; however, in the event the FDIC must make use of the Fund before it is fully capitalized, the Secretary of the Treasury and the FDIC are permitted to extend the period as determined necessary.

4173, commonly referred to as Dodd–Frank) was signed into United States federal law by President Barack Obama on July 21, 2010.

A version of the legislation was introduced in the House in July 2009.

768 comments

  1. The bills that came after Obama's proposal were largely consistent with the proposal, but contained some additional provisions and differences in implementation.

  2. Table of content s consumer services and market conduct branc h. 1 consumer services division.

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