January 12, 2011

Dodd-Frank Wall Street Reform and Consumer Protection Act

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act is being called the most sweeping change to financial regulation in the United States since the Great Depression. The law will affect all federal financial regulatory agencies, almost every aspect of the nation’s financial services industry, and American consumers.

Named for Rep. Barney Frank of New York and now retired Sen. Chris Dodd of Connecticut, the legislation was enacted to promote U.S. financial stability by improving accountability and transparency, end “too big to fail,” to protect the American taxpayer by ending bailouts, and protect consumers from abusive financial services practices.

Mike Shamblin, CPA and shareholder with PYA, will discuss the Dodd-Frank act at the January 18 meeting of the Knoxville Chapter of the Tennessee Society of CPAs (TSCPA) at Rothchild Catering and Conference Center. Shamblin, a member of the TSCPA Financial Institutions Committee and the Tennessee Bankers Association Fraud Task Force, will speak at 4 pm. Two hours of CPE is available to those who attend. Click here for registration information.

Dr. Richard L. Townsend, CPA and emeritus associate professor of accounting at UT, will speak at 2 pm on Current Financial Reporting Issues.

For more information about the Dodd-Frank Wall Street Reform and Consumer Protection Act, please contact Mike Shamblin at (865) 673-0177.