Financial Regulatory Reform Act Signed Into Law
July 28, 2010
President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21. The CPA profession successfully advocated for CPAs on a number of issues, including protections to maintain the Financial Accounting Standard Board's independence and a provision to ensure permanent funding for the Governmental Accounting Standards Board, and resisted duplicative and unnecessary regulation by the new Consumer Financial Protection Bureau for CPAs' usual and customary activities.
For more information about this historic reform bill, visit JournalofAccountancy.com.