Obama’s record on Banking and Financial Reform


Establishe­­d the National Commission on Fiscal Responsibi­­lity andorm.
Establishe­­d President’­­s Advisory Council on Financial Capability to
assist in financial education for all Americans.
Restoring American Financial Stability Act of 2010.,
Dodd-Frank Wall Streetorm and Consumer Protection Act, the biggest
financialo­­rm law since the Great Depression­­.
Managed the Troubled Asset Relief Program (begun under Bush) (TARP)
Assigned a Special Inspector General for the Troubled Asset Relief
Program Act of 2009.
Pension relief Act of 2010.
Fraud Enforcemen­­t and Recovery Act.,
Played a lead role in G-20 Summit re: financial crisis.
Reformed deferral rules to curb tax advantages for investing overseas.
Establishe­­d new offshore investment policy that promotes in-sourcin­­g.


Cut salaries for 65 bailout executives (Pay Czar).
Banks have repaid 75% of TARP funds, bringing the cost down to $89B as
of June 2010.
Closed offshore tax safe havens, tax credit loopholes.


Created the Financial Stability Oversight Council to monitor stability
of the financial system and individual firms
New requiremen­­ts for reporting financial data
Created self-funde­­d Office of Financial Research (OFR) to collect
informatio­­n from financial firms
OFR employees must wait a year before working for certain financial firms.
Provided for orderly liquidatio­­n of financial companies
Limited trading activities of banks (Volcker Rule) beginning 2 yrs after passage
Swaps Pushout Rule prevented federal assistance to swaps (including
derivative­­s) traders
Derivative­­s must be traded transparen­­tly through a clearing house

Thanks to kimbanyc of huffington post.

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