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Is Dodd-Frank the Biggest Law Ever?
Journal of Financial Regulation ( IF 2.0 ) Pub Date : 2021-02-07 , DOI: 10.1093/jfr/fjab001
Patrick A McLaughlin , Oliver Sherouse , Mark Febrizio , M Scott King

The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 continued a trend toward lengthier and more complex acts of Congress. In this article, we use novel metrics of the size, scope, and complexity of acts of Congress to assess Dodd-Frank’s place in this trend. Our analysis is consistent with the hypothesis that, in terms of its regulatory effects, Dodd-Frank is the biggest act of Congress in recent history and may become the biggest ever. We argue that this trend toward longer and more complex laws can cause deterioration in the quality of the regulations the laws authorize for two procedural reasons. First, a large act can create a regulatory surge that overwhelms the quality control process. Second, because a large act can precipitate the creation of many regulations by different agencies that target the same industry, the agencies create rules in relative ignorance of their potential interactions.

中文翻译:

多德-弗兰克是有史以来最大的法律吗?

2010 年通过的《多德-弗兰克华尔街改革和消费者保护法》延续了国会法案更长、更复杂的趋势。在本文中,我们使用国会法案的规模、范围和复杂性的新指标来评估多德-弗兰克在这一趋势中的地位。我们的分析与假设一致,即就其监管效果而言,多德弗兰克法案是国会近期历史上最大的法案,并且可能成为有史以来最大的法案。我们认为,这种向更长和更复杂的法律发展的趋势可能会导致法律授权的法规质量下降,原因有两个。首先,一项大型行动会造成监管激增,使质量控制过程不堪重负。第二,
更新日期:2021-02-07
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