According to the video, what are the purposes of the Dodd-Frank Act? Check all that apply.

Question

to protect banks from abusive financial practices
to improve accountability for banks
to end bailouts
to protect consumers from abusive financial practices
to allow for greater banking profits

Answer 1

The purposes of the Dodd-Frank Act include:

• to improve accountability for banks
• to end bailouts
• to protect consumers from abusive financial practices

The other options, "to protect banks from abusive financial practices" and "to allow for greater banking profits," are not primary purposes of the Dodd-Frank Act. The Act was primarily designed to enhance consumer protection and prevent the kinds of risky behaviors that led to the financial crisis of 2008.