The Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as Dodd-Frank, is a landmark and comprehensive U.S. federal law enacted on July 21, 2010, in response to the 2008 financial crisis. It represents the most comprehensive overhaul of financial regulation since the Great Depression, aiming to reform financial regulation, promote financial stability, enhance consumer protection, and prevent excessive risk-taking by financial institutions. The Act affects nearly every aspect of the financial services industry, including banks, derivatives markets, and nonbank financial companies, by closing regulatory gaps, improving supervision, and establishing mechanisms for orderly liquidation of failing systemically important institutions.

Key provisions include the creation of the Consumer Financial Protection Bureau (CFPB) to safeguard consumers from unfair practices, the Volcker Rule prohibiting banks from proprietary trading, enhanced regulation of over-the-counter derivatives by agencies like the Commodity Futures Trading Commission (CFTC), and stricter oversight of systemically important financial institutions. Dodd-Frank also mandates transparency in swaps markets, limits executive compensation, and requires stress testing for large banks. Implementation involved extensive rulemaking by federal agencies, though parts of the law have faced challenges and modifications, such as rollbacks under subsequent administrations.

The legislation was signed into law by President Barack Obama and passed by Congress to address the causes of the Great Recession, including lax regulation and accountability. It has been both praised for strengthening the financial system and criticized for increasing compliance costs, particularly for smaller institutions. Ongoing debates surround its effectiveness and potential reforms.