The purpose of the Dodd-Frank Wall Street Reform Act was to:
A)encourage banks to engage in more risk-taking.
B)give banks the choice to report their holdings.
C)force banks to limit their risk-taking.
D)limit what stocks and mutual funds that investors could choose.

Question

Quizplus · Accepted Answer

The Dodd-Frank Wall Street Reform Act was enacted in response to the 2008 financial crisis. Its primary purpose was to reduce risks in the financial system, including by forcing banks to limit their risk-taking activities. This was aimed at preventing future financial crises by increasing transparency, improving accountability, and protecting consumers from abusive financial services practices.

The Purpose of the Dodd-Frank Wall Street Reform Act Was