Title III streamlines the supervision of depository institutions and their holding companies by abolishing the Office of Thrift Supervision (OTS) and transferring its regulatory and rulemaking authority to the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and
The 2008 economic depression was triggered in part by the real estate bubble bursting. Mortgages became extremely easy to obtain, and many of those mortgages had predatory provisions that made it difficult for borrowers to pay off the mortgages in the event that their real estate value decreased.
Title VIII provides a new framework for assessing the systemic risk associated with financial institutions and financial market utilities involved in clearing activities for financial transactions. The Title grants authority to the Board of Governors of the Federal Reserve System (Board of Governors), U.S.
Originally prepared by Heather Byrne, Jennifer Uren, and Jackeline Solivan of the Cornell Law School Securities Law Clinic.
The Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law in July 2010, made reforms to financial regulations. The following pages provide an overview of the major provisions of the Act.
Title II, the Orderly Liquidation provision of the Dodd-Frank Act, provides a process to quickly and efficiently liquidate a large, complex financial company that is close to failing. Title II provides an alternative to bankruptcy, in which the Federal Deposit Insurance Corporation (FDIC) is appointed as a receiver to carry out the liquidation and wind-up of the company.