partial_accumen, 1 year ago

Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) - which among other things created the Consumer Financial Protection Bureau and put in place the Volcker Rule which forbids banks from making certain risky investments with depositors money. To give you an idea of the power of the Volcker Rule, when it went in place banks begged (and got) a 5 year delay to divest for investments that violate the rule. Yeah, banks were playing fast-and-loose with with the money you deposited in your checking and savings accounts for their own gain. The Volcker Rule stopped (most) of that.