Download Full Text (1.3 MB)
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.
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License
View on Penn Wharton PPI Website
Dodd-Frank, Federal Reserve, financial reform, banks
Skeel, David A., "Five Years after Dodd-Frank: Unintended Consequences and Room for Improvement" (2015). Penn Wharton Public Policy Initiative. 11.