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Wall Street Reform Act
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Positives
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Wall Street Reform Act
Forum
Positives
Wall Street Reform Act Benefits - List of Positives of Law
Date
Positive Result\Benefit
Beneficiary
Rank
07/22/10
Financial Stability Oversight Council established to identify and monitor excessive risks to the U.S. financial system
07/22/10
Future economic downturns minimized with new rules and transparency regarding bank trading in credit default swaps and derivatives including the "Volker Rule"
07/22/10
Risk in the financial system reduced with new SEC Office of Credit Ratings (OCR) to monitor credit rating agencies for conflict of interests & inaccuracies
07/22/10
Long-term economic stability improved through new FDIC powers to liquidate failing financial firms such as insurance companies and non-bank financial companies
07/22/10
FDIC bank deposit insurance increased from $100,000 to $250,000
Consumers
07/22/10
Transparency of Federal Reserve improved with additional government oversight and new audits to be performed by the GAO
07/22/10
Consumer Financial Protection Bureau established to promote fairness and transparency for mortgages, credit cards, and other consumer financial products
Consumers
07/22/10
Borrowers protected from bad loans with rules and penalties requiring that lenders verify that they are able to repay the loans that they issue
Home Owners
&
Consumers
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