Law Commons^™

From The Savings And Loan Association Crisis Of The 1980s To The Dodd-Frank Wall Street Reform And Consumer Protection Act: The Effect Of The Dodd-Frank Act On U.S. Thrifts And The Lesson For The Korean Savings Bank Crisis, Beumhoo Jang

Maurer Theses and Dissertations

The subprime mortgage crisis occurred in the United States in 2008, which struck the U.S. economy tremendously, and moreover, the world’s economy. In response to the crisis, the U.S. government enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act, however, focused mainly on enhancing regulatory systems rather than considering how the Act affected small-scale financial institutions, including thrifts, which play a major role in the U.S. local housing development industry.

In addition, the Act did not accord with the principles of the Government Accountability Office, and left certain regulatory measures intact, including the Qualified Thrift Lending test. …