Wall Street Reform Act Benefits - List of Positives of Law

Positives


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