How Financial Reform Could Affect You

Once signed into law by President Barack Obama, how will the new financial reforms of the Dodd-Frank Wall Street Reform and Consumer Protection Act affect consumers?

One of the most prominent features of the bill is the creation of a Consumer Financial Protection Bureau within the Federal Reserve. Its mission will be to oversee consumer financial products offered by banks, mortgage companies, credit cards, debt-settlement firms, loan providers and payday lenders. It will have the authority to craft regulations, launch investigations and act on consumer complaints. The following is a sample of other ways the bill may—or may not—act on average Americans.

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