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