The Dodd-Frank Wall Street Reform and Consumer Protection Act is a comprehensive piece of legislation enacted in 2010 in response to the 2008 financial crisis. Its primary goal is to increase financial stability and protect consumers by implementing stricter regulations on banks and financial institutions. The act established the Consumer Financial Protection Bureau (CFPB) to oversee and enforce consumer protection laws. Additionally, the Dodd-Frank Act introduced measures to prevent risky financial practices, such as the Volcker Rule, which restricts banks from making certain speculative investments. It also requires greater transparency in financial markets and aims to reduce the likelihood of future economic crises by holding financial institutions accountable for their actions.