Dodd-Frank Meets 33% of Rule Deadlines, Misses Majority

Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act is slow moving at best, according to a recent progress report from international law firm Davis Polk & Wardwell LLP. 

Of the 221 rule making deadlines that have passed to date as of June 1, just one third have been met, leaving 66.7%, or 148 deadlines that have been missed, Davis Polk says. 

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The 221 passed deadlines represent just more than half of all rule making requirements as specified under the law. 

View the report card

Written by Elizabeth Ecker

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  • There is an old saying that selective compliance leads to selective enforcement.  Here it is the failure of regulators to meet deadlines (selective compliance) will lead to selective enforcement.  This shows what a farce even the Democratic Administration which holds this as a cornerstone of their legislative legacy really thinks of its own achievements.

    One of the premises of this Act was that every piece of it was needed to be passed because it is a holistic approach to regulating those businesses that helped cause the crisis.  As usual Democrats have no way to put into effect what it is they falsely believe will work.  Dodd-Frank is a class A regulatory maze which will not add the clarity its proponents claimed it will but rather more consumer and industry confusion.

    And I vote for Democrats.  Go figure.

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