2019 Journal of Community Bank Case Studies

Eastern Kentucky University

SECOND PLACE:

2 ND PLACE

Kentucky Bank: The Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA or Public Law No: 115-174) Eastern Kentucky University Students: Coby Cumbow Kassidy Easterling Madison Pergrem

Randa Morris Scott Winter Faculty Advisor: Maggie Abney

Introduction The Great Recession of 2008 was the result of risky lending practices, aggressive trading by investment banks, abuse of derivatives and the burst of the housing bubble. With the failure of one investment bank (Bear Stearns) and the demise of another (Lehman Brothers), markets reacted and consumers, corporations and governments around the world watched the value of their assets and investments plummet. It was decided that swift action must be taken to prevent a similar disaster and to hold financial institutions accountable for their actions and influence on the global economy. This prompted the creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

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