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Tuesday, July 26, 2016

AAF Research: Dodd Frank Impact on Revolving Consumer Credit

The Dodd-Frank Act has resulted in a 14.5% decrease in revolving consumer credit since 2010, according to research from the American Action Forum (AAF). According to FDIC data, revolving consumer credit has been steadily declining for the past ten years; however, holding outside influences constant (such as home prices and consumer sentiment) AAF determined Dodd-Frank was associated with a considerable drop in revolving consumer credit availability.

The AAF research also found that six years after the passing of the Dodd-Frank legislation, the law has cost more than $36 billion in regulatory costs and 73 million hours of paperwork compliance from final rules alone – there are a remaining 61 rulemakings outstanding before the law is fully implemented.

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