Analysis

10 Years On, Dodd-Frank's Compliance Overhaul Here To Stay

Law360 (July 14, 2020, 9:33 PM EDT) -- The Dodd-Frank Act's wide-ranging, complex and controversial set of regulations resulted in massive investments into compliance departments, creating a robust regulatory framework that attorneys say will remain ingrained in the financial system despite efforts to roll back the rules.

Upon the 10th anniversary of Dodd-Frank's enactment, attorneys reflected on the law that aimed to reform the segments of the financial sector at the heart of the 2008 crisis, noting that it helped transform bank compliance departments into complex, independent entities infused with new technologies and highly-trained personnel.

"Dodd-Frank was a sea change for compliance departments," said Donald Waack, a partner with...

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