Attorney Bill Bronchick lays out the basics of the Dodd Frank Law, and sifts through the rumors. He outlines what it is, what it's not, and the basic rules around it pertaining to investors.
Dodd Frank is a federal law that regulates lenders and banks to protect consumers. It declares the standards under which banks must qualify and prove they are lending to people with a reasonable ability to repay loans.
Bill explains the ONLY time investors need to be in compliance with the law, the specific categories laid out within Dodd Frank required to comply, and the one “free pass” for persons, estates and trusts.