The passage of the Financial Reform Law of 2010 changed The Federal Deposit Insurance Corporation (FDIC)protection of bank deposit accounts from the previous $250,000 to $100,000 per account.This was seen as an attempt to instill market discipline on depositors.

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The statement is incorrect. The Financial Reform Law of 2010 did not decrease the FDIC protection of bank deposit accounts from $250,000 to $100,000 per account. In fact, it increased the protection to $250,000 per account, which is the current limit as of 2021. The purpose of the law was to strengthen the banking system and protect consumers by providing greater accountability and oversight.

The Passage of the Financial Reform Law of 2010 Changed