# Dodd-Frank: Five Years After

1 Opinion July 5, 2015 The Huffington Post ![Kim Schoenholtz](/sites/default/files/styles/246w/public/assets/images/con_033448.jpg?itok=-Wg03fdj) By Kim Schoenholtz and Stephen Cecchetti > So, how should you celebrate Dodd-Frank's fifth birthday? Perhaps by wishing - when you blow out the candles - that Congress will try do much better before we face the next crisis.

On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (hereafter, DF), the most sweeping financial regulatory reform in the United States since the 1930s. DF explicitly aims to limit systemic risk, allow for the safe resolution of the largest intermediaries, submit risky nonbanks to greater scrutiny, and reform derivatives trading.

How to celebrate its fifth birthday? Well, if you are like us, it will be a sober affair, reflecting serious worries about the continued vulnerability of the financial system.

Let's have a look at the most noteworthy accomplishments and the biggest failings so far.

Read the full article as published by [The Huffington Post](http://www.huffingtonpost.com/stephen-g-cecchetti/dodd-frank-five-years-aft_b_7729598.html)

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*Kim Schoenholtz is a Professor of Management Practice and Director of the Center for Global Economy and Business.*## More Opinions from Kim Schoenholtz

- [Is Tether the Coppernose of Our Time?](https://www.stern.nyu.edu/index%2ephp/experience-stern/faculty-research/opinion/tether-coppernose-our-time)
- [Ignore the Bank Lobby, Regulators. It’s High Time For Banking Reform.](https://www.stern.nyu.edu/index%2ephp/experience-stern/faculty-research/ignore-bank-lobby-regulators-its-high-time-banking-reform)
- [The Dangerous Role of America’s Weird Lenders-of-Next-to-Last Resort.](https://www.stern.nyu.edu/index%2ephp/experience-stern/faculty-research/dangerous-role-americas-weird-lenders-next-last-resort)
- [Making Banks Safe.](https://www.stern.nyu.edu/index%2ephp/experience-stern/faculty-research/making-banks-safe)
- [The Russian Invasion and the Risks to Global Financial Stability.](https://www.stern.nyu.edu/index%2ephp/experience-stern/faculty-research/russian-invasion-and-risks-global-financial-stability)