Perspectives on Dodd-Frank and Finance
Paul H. Schultz
Abstract
Leading scholars in economics, finance and law, along with regulators and practitioners, discuss Dodd-Frank and financial regulation. The origins of the Dodd-Frank Act in the financial crisis and the legislative process that produced it are described. Systemic risk and the problem of too-big-to-fail institutions are explained. Salient features of the Act, including new rules for mortgage origination and securitization, central clearing of derivatives, the Volcker Rule, the creation of the CFPB and the FSOC, the conflict minerals rule, and new rules for resolving troubled financial institution ... More
Leading scholars in economics, finance and law, along with regulators and practitioners, discuss Dodd-Frank and financial regulation. The origins of the Dodd-Frank Act in the financial crisis and the legislative process that produced it are described. Systemic risk and the problem of too-big-to-fail institutions are explained. Salient features of the Act, including new rules for mortgage origination and securitization, central clearing of derivatives, the Volcker Rule, the creation of the CFPB and the FSOC, the conflict minerals rule, and new rules for resolving troubled financial institutions are discussed. Participants question and debate the efficacy of Dodd-Frank features like the Volcker Rule, mandated swap clearing, the CFPB, and risk retention in securitization. The slow pace of rule writing is discussed and the difficulties in writing workable regulations from the legislative framework are described.
Keywords:
Dodd-Frank,
Financial Crisis,
SIFI,
Regulation,
Too-Big-to-Fail,
Volcker Rule,
CFPB,
Securitization,
Subprime Mortgage
Bibliographic Information
| Print publication date: 2014 |
Print ISBN-13: 9780262028035 |
| Published to MIT Press Scholarship Online: May 2015 |
DOI:10.7551/mitpress/9780262028035.001.0001 |
