The Dodd-Frank Wall Street Reform and Consumer Protection Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act, or simply the Dodd-Frank Act, was passed into law in July of 2010. This bill, meant as a sweeping overhaul of financial regulatory reform, was passed in response to the failure of large corporations and subsequent economic recession. Additionally, by increasing transparency, this Act encourages whistleblowers to report on illegal actions.
If you have information regarding securities fraud, such as market manipulation and mismanagement of corporate finances, the government can use this to pursue the fraudsters and protect the public. Should your information help win the case, you can receive a percentage of the damages. To discuss your case, contact a dedicated Qui Tam attorney from Tycko & Zavareei, LLP today at 202-973-0900.
Provisions of the Dodd-Frank Act
In order to put a stop to corporations running away with debts that eventually collapse, Congress passed the Dodd-Frank Act with several goals in mind. These provisions include:
- Increasing accounting transparency
- Ending bailouts paid for by American taxpayers
- Stopping the “too big to fail” attitude for large corporations
- Protecting consumers from abusive financial treatment by corporations
- Setting up new federal regulations and oversight offices
- Starting a federal insurance oversight office
- Regulating the proprietary trading performed by banks
A lack of transparency and financial accountability resulted in many people losing their investments, retirement funds, and hope for the future. Thus, the government now takes this securities fraud very seriously, and they encourage whistleblowers to come forth with information.
Contact Us
By providing the government with information regarding securities fraud, you can help protect your fellow citizens from falling prey to irresponsible, careless corporations and financial managers. If you are aware of any financial lawbreaking, you should take this information to a dependable, experienced attorney. To learn more about your legal options, contact a tenacious Qui Tam lawyer from Tycko & Zavareei, LLP at 202-973-0900 today.
