Mobile Menu - OpenMobile Menu - Closed

Congressman Andre Carson

Representing the 7th District of INDIANA

Connect

Dodd Frank: Then and Now

DODD-FRANK WALL STREET REFORM ACT: THEN & NOW

This legislation was a landmark win for consumers and businesses on Main Street. No longer will the American people be subject to the tricks and traps that contributed to the financial crisis. Here are just some of the improvements recently put into effect:

THEN:  Unlimited swipe fees that merchants pay for each debit-card transaction

NOW: Limits on swipe fees. The average interchange fee was 43 cents in 2009, but the average fee is now down to about 22 cents

THEN: Corporate executive compensation was often folded into agreements far beyond the ability of individual investor to approve or disapprove

NOW: Shareholders are required to have a meaningful “say on pay” through votes on executive compensation, plus disclosure of golden parachute compensation, demonstration of the relationship between executive compensation and performance, and the ratio between the CEO’s compensation and the median compensation of all other employees

For more information about the Dodd-Frank Wall Street Reform Act, please click PDF iconhere.