ECONOMY - Consumer Financial Protection Bureau Launched

"One Year Later: What Wall Street Reform Means for You" by Katelyn Sabochik, The White House Blog 7/21/2011

One year ago today, President Obama signed the Wall Street Reform bill into law.

This groundbreaking law does three important things. First, it brings to an end taxpayer funded bailouts -- so taxpayers will never again be left paying the bill if a big bank fails. Second, it stops the reckless risk-taking by Wall Street that put consumers in jeopardy and led to the economic crisis. And third, this law puts in place the strongest consumer protections in history.

Here’s a quick video we put together last year to explain it: