Penn Wharton Public Policy Initiative

Publication Date

12-2015

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Volume

3

Number

10

Document Type

Brief

Summary

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.

License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License

Keywords

Dodd-Frank, Federal Reserve, financial reform, banks

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

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