Discuss the regulatory intervention that took place in the US post 2008 crisis choosing a topic from FRANK-DODD ACT 2010 - Research Paper Example

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(Name) (Instructors’ name) (Course) (Date) Table of Contents I Abstract…………………………………………………………………………………………3 II Introduction……………………………………………………………………………………4 III Origin of consumer protection rights………………………………………………………….5 IV Consumer protection laws (Act)………………………………………………………………7 V Consumer policy Challenges………………………………………………………………….11 VI Future development and laws needed………………………………………………
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Discuss the regulatory intervention that took place in the US post 2008 crisis choosing a topic from FRANK-DODD ACT 2010
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Download file to see previous pages The consumer’s welfare is protected, and their rights are to be considered. Through consumer protection fraud and illegal activities are able to be avoided because some of the laws protect the needs of those who have no knowledge about their rights taking an example in a business where some firms use the advantage of their size over others. Through the laws installed in the country there exists a fair deal and assists in the consumer in making better decisions in the market place (Acharya 26). People like investors, those in need of mortgage are able to be clear on what their rights are before involving themselves in companies or people who will deceive them. These includes the government organizations and also the self-regulating business organizations such Federal Trade Commission among others. The consumer protection rights have been seen to grow over the years from the 19th century which people saw the need for this from the fraud seen in the mail to what we see to date. This assists in the protection of both consumers and businesses in the operation of their works.9Through consumer protection people are able to use the law in reporting cases like illegal acts and works done against the law. They are therefore, said to protect the welfare of people in making fair deals and transparency to the services and businesses conducted. The consumer rights are also put to protect the environment and the welfare of people’s health. Some industries produce toxic products which leads to the retrogression of the health conditions of people like the Cigarettes and also the environment like the global warming effect (Li & Palumbo 23). Introduction There are several consumer protection acts in the American government and in this context we are going to use the Dodd-Frank Wall Street reform and consumer protecting in establishing his acts, the benefits of the consumer protection laws and be able to tell the rights the consumers are eligible to. 1 The Dodd-Frank Reform and Consumer Protection Act is mainly n the financial crisis in America which started in 2007.It is an act imputed on the financial services to the banks and non- banking holding companies which include insurance companies, security firms and also international banks among others within and globally (Stowell 25). The Dodd-Frank Act leads to the change in financial services regulation creating a new federal authority and also a new financial consumer regulatory body. This act was approved in 2010 and became effective from 22nd July (Braybrooke 19). This legislation was put in place of all the financial activities within the States and also non-US banking organization firms. The main features in the legislation included maintenance of financial stability by creating a council which is given the mandate to overlook on the activities in the financial system. It also gives the Federal Deposit insurance Corporation to be able to control the firms which are failing by protecting the counterparties which leads to t ...Download file to see next pagesRead More
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