The global financial crisis of 2007-2008 will long be remembered for the turmoil it caused to the banking industry. Some well-established banks previously thought to be too big to fail came crumbling down overnight.
As the effects of the crisis raged, the infamous Dodd–Frank Wall Street Reform and Consumer Protection Act in the US was enacted to promote financial stability, improve accountability and transparency in the financial system, and protect consumers from abusive financial services practices.
