Consumer Protection, Powerful Companies, Dodd Frank Act

Consumer Protection
Name:
Institution:
Course:
Date:
Consumer Protection
Consumer protection laws are crucial for the fair-trading practices that ensure that the clients are not mistreated by the businessmen (Peirce, 2013). These are laws that came up as part of the need to regulate businesses relative to the way that they interact with the customers. Following the financial crisis that was witnessed in the year, 2008 the Obama administration put in place what is commonly referred to as the Dodd Frank Act. This is a massive piece of financial reform to help protect the consumers from such exploitations as were experienced during the and before the crisis.
However, the Act is going to be hurtful to businesses especially the smaller ones. This is relative to the fact that the larger more powerful companies are going to have the ability to afford lawyers to analyze them. For the sma...