Dodd-Frank Act sign with piggy bank, calculator Dodd-Frank Act. Source: Shutterstock

Ten years ago today, the Dodd-Frank Act was signed into law. With it came sweeping financial reforms in response to the anti-consumer behaviors of Wall Street banking behemoths that caused the 2008 financial crisis.

While it was important Congress acted quickly to reign in the egregious practices of the big banks, credit unions – which have been heralded for not contributing to the financial crisis – were caught in the crosshairs unnecessarily. As a result, credit unions and their members have long paid the price of over-regulation.

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