In a reaction to the last major financial crisis, Dodd-Frank (the Wall Street Reform and Consumer Protection Act) was passed, and with it came hundreds of new regulations designed to provide additional financial stability, as well as ending the bailouts of “too big to fail” giant financial institutions. In its effort to prevent a future crisis from occurring, however, Dodd-Frank and its newly created Consumer Financial Protection Board (CFPB) directly or indirectly created many regulations that have resulted in unintended consequences, many of which have led to more harm than good.

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