Breaking Banks Happy 15th Dodd Frank!
Jul 31, 2025
Join Alex Johnson, a savvy FinTech commentator, Kiah Haslett, a former banking and fintech editor, and Dara Tarkowski, a regulatory expert from Actuate Law, as they celebrate the 15th anniversary of Dodd-Frank. They explore its successes and failures, discussing the rise of non-bank lenders and the implications of the Volcker Rule. The trio dives into the politicization of the CFPB and debates the potential impact of the GENIUS Act on future regulation. This insightful conversation is a treasure trove for anyone interested in fintech and banking policy!
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Founders Annotated The Draft
- Jason and his cofounder each printed and annotated the early Dodd-Frank draft while fundraising for Perk Street.
- He recalls that as one of the worst 72 hours of his life spent parsing the law.
Dodd-Frank As A Crisis Response
- Dodd-Frank was Congress's sweeping response to the 2007–2008 financial crisis, aiming to fix incentives that caused the collapse.
- It created major institutions like the CFPB, FSOC, the Volcker Rule, and stress testing that reshaped finance.
Non-Banks Brought Into Federal Fold
- Dodd-Frank extended federal oversight to many non-bank financial firms that previously only faced state rules.
- That shift introduced supervision, rulemaking, and enforcement risk for fintechs, servicers, and payday lenders.