Chart of the Day: The Sluggishness of Financial Regulation

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As we mark the Dodd-Frank financial regulation bill's first birthday today, we might wonder what it would look like in a picture. Luckily, the graphic designers and bank regulation analysts at Deloitte got together and created a chart to provide a snapshot of the bill's progress. It shows what was explained here earlier: we've only just begun to see the bill's implementation.

Here it is, in all its pretty, complex magnificence (click to enlarge to a huge version):

deloitte dodd-frank graphic.png

Working from left to right, the chart goes through the agencies involved in the regulation, the titles of the bill itself, and the topics they cover. It then traces the rules through a timeline like fiber optics of varying color depending on that topic.

But what does the timeline mean? Many of the new rules include comment periods so that regulators can try to identify and correct any serious flaws in the new rules. Of the 445 comment dates, the vast majority have passed. Note that the graphic allows some overlap.

Once the comment period ends, regulators need to figure out how to make a regulation workable. Once it does, it sets effective and/or compliance dates. We've got far fewer of those, as you can see.

Finally, 206 of the rules appear to be in a sort of limbo, awaiting a next step.

Seeing how little of the massive financial regulation bill is actually finalized sort of makes its first anniversary anticlimactic. Regulators still have a lot of work to do on Dodd-Frank before we'll know the full effect it will have on the financial industry and broader U.S. economy.

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Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
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