The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is designed to improve accountability and transparency in the U.S. financial system. A short sale transaction will be profitable when prices are falling.
What are the aims of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010?
An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
What is the purpose of Section 1502 of the Wall Street Reform and Consumer Protection Act?
Section 1502 of the Dodd-Frank Wall Street Reform & Consumer Protection Act requires public companies in the U.S. to disclose their use of tin, tungsten, tantalum and gold (3TGs) in their products and determine if they are sourced in an ethical manner.
What did the Dodd-Frank Wall Street Reform and Consumer Protection Act do quizlet?
The Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as simply “Dodd-Frank”, is supposed to lower risk in various parts of the U.S. financial system. … Additionally, the council can break up large banks that may pose a risk to the financial system because of their size.
What is the purpose of the Dodd-Frank Act quizlet?
To protect consumers from abusive financial services practices.
What does Dodd-Frank prohibit?
The Dodd-Frank Act restricted the emergency lending (or bailout) authority of the Federal Reserve by: Prohibiting lending to an individual entity. Prohibiting lending to insolvent firms. Requiring approval of lending by the Secretary of the Treasury.
What are the five areas included in the Dodd-Frank Act?
What are the five areas included in the Dodd-Frank Act of 2010? Consumer protection, resolution authority, systemic risk regulation, Volcker rule, and derivatives.
What is Dodd-Frank Act Section 1502?
The Dodd Frank Act Section 1502, part of the U.S. government’s Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law in July 2010, requires publicly traded companies to ensure that the raw materials they use to make their products are not tied to the conflict in Congo, by tracing and auditing their …
What does Section 1502 of the Dodd-Frank Act require?
Section 1502 of the Dodd-Frank Act requires all Securities and Exchange Commission (SEC) reporting companies to disclose whether their products contain minerals from the Democratic Republic of the Congo (DRC), or one of its neighboring countries.
What is the Dodd-Frank Act How did this act attempt to address atrocities associated with mining of conflict minerals?
The Dodd Frank Wall Street Reform and Consumer Protection Act, passed by the US Congress in July 2010, includes a provision – section 1502 – aimed at stopping the national army and rebel groups in the DRC from illegally using profits from the minerals trade to fund their fight.
What aspect of the Dodd-Frank Act was aimed at curbing the excesses that led to the 2008 financial crisis?
The Dodd-Frank Wall Street Reform and Consumer Protection Act was intended to prevent another financial crisis like the one in 2008.
Why was the Dodd-Frank Wall Street Reform and Consumer Protection Act passed into law?
Dodd-Frank was passed in 2010 in order to protect consumers from the unfair and deceptive practices and products that led to the 2008 crisis; give regulators the tools to ensure that no Wall Street firm grows too large, complex, or risky so as to threaten the global economy; create transparency in previously opaque …
What are the main purposes of regulatory policies?
Regulatory policy is designed to achieve efficiency and equity, which requires the government to intervene, for example, to maintain competitive trade practices (an efficiency goal) and to protect vulnerable parties in economic transactions (an equity goal).
What provides the why or the goal and purpose of accounting?
The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it.
Which governmental agency was created as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act quizlet?
The law established the Consumer Financial Protection Agency (CFPB) regulates consumer finance companies and their products and services.
What is the purpose of the Mortgage Reform and Anti Predatory Lending Act quizlet?
The Mrtgage Reform and Anti-Predatory Lending Act requires MLOs to apply qualified loas as one way to prevent predatory lending practices.