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Dodd-Frank Act Still a Work in Progress

Joe Mont | February 25, 2014

This is a crucial year for the Dodd-Frank Act. More than 70 percent of its required rulemaking is either proposed or finalized, on track to take effect in the weeks and months ahead. For the first time, enough pieces of the regulatory reform puzzle are snapped into place to make an early assessment of if it is living up to its promises, or at least if it has the potential to.

Will it succeed in its goal to ensure stable financial markets by closing loopholes and creating new oversight? Is it flexible enough to keep markets safe for years to come and vaccinate an easily wounded economy protected from greed and excessive risk taking?

What will its ultimate legacy be? That depends both on how well it works in the days ahead and whether critics who want to kill or modify what they still can will help improve the law or sabotage it.

Dodd-Frank's architects ambitiously positioned the package as another face on the Mount Rushmore of financial reforms, alongside the...

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