While it remains to be seen how the current crisis will play out and what, if any, regulatory changes will be made, Frank’s legacy as a champion for financial reform is secure. Now, as the United States faces another bank crisis following the fallout of Silicon Valley Bank and Signature Bank, the legacy of Dodd-Frank and Frank’s role in passing the act is once again in the spotlight. The act was hailed by some as a necessary step to prevent another financial crisis, while others criticized it as overly burdensome and harmful to economic growth. The Dodd-Frank Act brought about a number of changes to the banking industry, including the creation of the Consumer Financial Protection Bureau and increased regulation of derivatives and credit rating agencies. ![]() Frank, who was then the chairman of the House Financial Services Committee, played a crucial role in crafting and passing the bill. This landmark legislation was passed in 2010 in the aftermath of the financial crisis and aimed to regulate the banking industry and protect consumers. In many ways, their relationship has become a symbol of the progress that has been made in terms of LGBTQ+ rights in the United States.īarney Frank Sat on Board for Collapsed Signature Bank via The Amish Texter™ ❌□□ March 13, 2023īut beyond his personal life, Frank’s political achievements have been significant, particularly his role in passing the Dodd-Frank Wall Street Reform and Consumer Protection Act. Some have criticized the couple for their significant age difference (Frank is 40 years older than Ready), while others have praised them for breaking down barriers and advocating for LGBTQ+ rights. He has also been involved in various community organizations and has served on several boards of directors, including the Portland Regional Chamber of Commerce.ĭespite Ready’s preference for a more private life, his relationship with Frank has been the subject of much interest and scrutiny. Barney Frank, the former congressman from Massachusetts who helped design the landmark banking safety legislation after the 2008 economic crisis, defended his involvement with the now-defunct. NPR's Juana summers talks with former Congressman Barney Frank about the collapse of Silicon Valley Bank and Signature Bank and the Dodd-Frank rollback of 2018. Ready has been a successful businessman, founding his own photography company, Ready Image Photography, in 1988. In fact, Ready has been known to shy away from the spotlight, preferring to focus on his own business ventures and interests. While Ready’s marriage to Frank has certainly garnered attention, he has largely remained out of the public eye. Also read | List of companies impacted by Silicon Valley Bank collapse
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