Five Years after Dodd-Frank: Unintended Consequences and Room for Improvement

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Wharton Public Policy Initiative Issue Briefs
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Dodd-Frank
Federal Reserve
financial reform
banks
Economic Policy
Public Policy
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Five Years after Dodd-Frank: Unintended Consequences and Room for Improvement (http://publicpolicy.wharton.upenn.edu/issue-brief/v3n10.php)
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This brief offers a 5-year retrospective on Dodd-Frank, pointing out aspects of the legislation that would benefit from correction or amendment. Dodd-Frank has yielded several key surprises—in particular, the problematic extent to which the Federal Reserve has become the primary regulator of the financial industry. The author offers several recommendations including: clarification of the rules by which strategically important financial institutions (SIFIs) are identified; overhauling the incentives offered to banks; instituting bankruptcy reforms that would discourage government bailouts; and easing regulatory burdens on smaller banks that are disproportionately burdened by the SIFI designation process.

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2015-12-01
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