The Wall Street Reform and Consumer Protection Act established a government committee with the right to regulate "systemically important" nonbank financial institutions as if they were banks.

Question

Quizplus · Accepted Answer

The Wall Street Reform and Consumer Protection Act, also known as the Dodd-Frank Act, does indeed establish a government committee (the Financial Stability Oversight Council) with the authority to regulate nonbank financial institutions that are deemed "systemically important" in a similar way to the regulation of banks.

The Wall Street Reform and Consumer Protection Act Established a Government