It created the Consumer Financial Protection Bureau, which aims to protect consumers from abusive financial products. Large banks had to prove they could survive a hypothetical financial crisis or a deep recession. And they had to devise plans to dismantle themselves in an orderly fashion if they ever had to seek bankruptcy. ___ Q: So has Dodd-Frank worked? A: The balance sheets of the nation’s biggest banks are far more robust than before the crisis and more prepared to endure financial setbacks. And most analysts say the restrictions imposed by Dodd-Frank largely worked as a safeguard against another crisis. Yet not until another crisis actually hits will it be clear whether Dodd-Frank works as well as its supporters claim. And no one knows for sure whether the law has caused the economy to grow more slowly than it otherwise would. ___ Q: Has Dodd-Frank made it harder for people to buy a home or car, or to borrow? A: The law did restrict certain risky mortgages and reined in other types of lending that had previously faced little or no regulation.
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