The Dodd-Frank Act of 2010, passed in the aftermath of the Great Recession, was intended to better regulate financial institutions and safeguard their customers against risky loans and abusive practices.

The measure partly was intended to prevent another potential Wall Street meltdown, which came to a head after the September 2008 collapse of Lehman Brothers — a decade ago this week — revealed the breadth and depth of the subprime mortgage disaster.

The other goal of Dodd-Frank was to protect consumers. Some of that was done through much stricter banking provisions, including imposing tighter lending requirements. Most notably, though, the legislation created the Consumer Financial Protection Bureau.

"The amount of enforcement activity has declined, but the bureau is focusing on the things that are pretty clear-cut," Kaplinsky said. "If some company or bank commits fraud or deceives consumers, Mulvaney won't tolerate it. But he won't to try to overreach or cover things in a gray area.

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