Perspective
Jul. 24, 2010
Financial Reform: The Shifting Pendulum of Preemption
The newly approved financial reform bill will limit how banks can respond to consumer litigation, by Richard Kellner and Evan Zucker of Kabateck Brown Kellner.
On Wednesday July 21, 2010, President Barack Obama signed into law the Dodd-Frank Act, also known as the Wall Street Reform and Consumer Protection Act. The mammoth new legislation is 2,319 pages long and covers everything from regulatory authority to reinsurance. For months, commentators have either heralded the legislation as a remedy to prevent future banking crises, or portrayed it as the harbinger of doom for the fr...
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