The Dodd-Frank Act increased banks' capital requirements and established the Consumer Financial Protection Bureau.

Commonly referred to as the 'bank bailout,' the Troubled Asset Relief Program disbursed $443B in an attempt to keep the financial system solvent.

To avoid a total collapse of the housing market, the US government took control of the two leading mortgage companies, Fannie Mae and Freddie Mac.

Congress has the power to enact laws related to bankruptcy, thanks to the US Constitution

It has done just that since 1800. This legislation, which outlines the various types of bankruptcy filings, has evolved over time. The most recent iteration is the Bankruptcy Reform Act of 1978, which introduced Chapter 11 filings in an effort to make the process easier for businesses and individuals.

Environmental regulation had bipartisan support in the 1970s

During the 1970s, Democrats and Republicans alike backed landmark environmental laws. Congress passed the Clean Air, Clean Water, and Endangered Species Acts with overwhelming bipartisan majorities—reflecting broad public agreement on protecting the environment.

The Federal Reserve fought the Great Recession primarily with quantitative easing and repurchasing agreements.

The Glass-Steagall Act separated commercial banks in the US from investment banks

In 1933, the Glass-Steagall Act legally separated commercial banks in the US from investment banks. However, by 1999, the act was repealed—meaning that today’s investment banks are no longer required to be separate from the type of bank where you deposit your paycheck.

The Social Security Act was formed to protect retired workers amid the Great Depression

President Franklin Delano Roosevelt’s New Deal created new government agencies and programs in the wake of the Great Depression, including the Social Security Act.

Why the SEC was started

The Securities and Exchange Commission was created during the Great Depression to restore public trust in financial markets after the 1929 crash. Established in 1934, it enforces transparency, investigates fraud, and protects investors by requiring companies to disclose accurate information and holding violators accountable.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

In March 2008, Bear Stearns was the first major bank to collapse in the Great Recession—leading to panic across the entire global financial system.

In 2019, Congress passed the Secure Act to reform key aspects of the US tax code

Key Secure Act provisions included raising the age at which mandatory distributions take effect (to increase saving), allowing larger catch-up contributions for older individuals, and allowing employers to directly match contributions in a Roth 401(k).

Listen to an account of a community bank that was taken over by the FDIC in the Great Recession.

Banks have increased small loan programs since 2018, upping competition for payday lenders

One of the reasons payday lending flourished for nearly two decades is that most banks charged high overdraft fees and didn't offer small loans. However, since 2018, banks have increased their small loan options. Supporters say this provides safer alternatives for consumers, as banks are subject to more regulatory measures and are less likely to allow consumers to keep rolling over loans.

Watergate-era reforms restricted the power of the presidency

Watergate ushered in sweeping changes. Agencies were required to release information openly, officials had to disclose finances transparently, and new laws limited conflicts of interest. The reforms also established independent oversight of ethics and safeguarded presidential records, curbing abuse and boosting accountability.

FDR greatly expanded the authority and size of the executive branch

FDR expanded presidential power through the New Deal, World War II leadership, and direct communication with the public. He redefined the executive branch as an active policymaking force and established expectations for strong, interventionist presidential leadership.

Central banking in the US has had a fraught political history

That history includes its doomed early efforts in the First and Second National Banks, as well as its failure to address the worst financial period in US history, the Great Depression.

For every $100 you deposit, your bank puts a few cents in the FDIC insurance fund

This is a result of the 1933 Banking Act that established the Federal Deposit Insurance Fund. The law sought to prevent bank runs like those that decimated the banking industry amid the Great Crash and subsequent major depression. Today, individual depositors are insured up to $250K at each bank where they have an account.

The Smoot-Hawley Tariff Act is among the most famous pieces of economic legislation in the US

In a desperate move to save the economy from the deepening global depression, the US placed tariffs on thousands of goods from abroad. This approach backfired, as many of America’s trade partners took retaliatory measures.

The Civil Rights Act expanded the Department of Justice's enforcement powers

The 1964 bill empowered the DOJ's Civil Rights Division to challenge segregation, protect voting rights, and prosecute discrimination, thereby expanding its role in defending civil rights.

Congress is passing fewer laws than in previous decades

A Reuters analysis shows that legislative output in the US Congress has declined as polarization deepens, bipartisan cooperation erodes, and lawmakers rely more on sprawling, must-pass spending bills rather than regular lawmaking.

Congress mandated that the Fed streamline check payments

When it was first created in the 1910s, the Federal Reserve System became a crucial link between the nation's regional banks. The increasing number of checks used by the thousands of banks across the nation required a central operator, and the Fed was uniquely positioned to help. Learn more about the role the Fed played in the history of checks.

In 2025, the 'two strikes and you're out' rule took effect to protect consumers from repeated attempts to withdraw money

After years of being delayed by litigation, a 2024 US Supreme Court ruling upheld a law that prevents lenders from attempting to take payments from accounts with insufficient funds more than twice without reauthorization. This tactic is commonly used by payday loan companies, which technically require repayment on the day borrowers receive their paychecks.

Ray Dalio argues that American capitalism is broken, citing economic factors like a growing wealth divide

Dalio also points to stalling income growth, weak healthcare systems, and poor educational outcomes when arguing that American capitalism needs serious reform. However, critics point out that Dalio has amassed a large fortune by running the world's largest hedge fund and question whether Dalio really wants economic reform.

One in five Americans has an error on their credit report, according to the Federal Trade Commission

In 2026, four US senators sent letters to two of the nation's major credit bureaus (TransUnion and Experian) after an investigation revealed that they were fixing fewer errors on consumers' credit reports.

Read about why bans on short selling are a controversial policy

Generally, short selling is legal, but regulations often restrict short positions when a stock has experienced a sharp price decline (more than 10% in one day). However, negative feedback loops in times of financial crisis have given short selling a bad reputation. The government has temporarily banned short selling during previous market downturns—like The Great Recession of 2008 and the early months of the COVID-19 pandemic—but experts argue whether those bans actually improved market stability or just distorted prices.

Trump's 2025 'One Big Beautiful Bill Act' expanded access to health savings accounts

After the "One Big Beautiful Bill" took effect, Medicare users with bronze or catastrophic level health plans, as well as certain medical care membership models and telehealth users, became eligible for HSAs. Supporters of HSAs say expanding access to this savings program is more effective in alleviating high consumer costs than subsidizing healthcare plans or direct treatments.

The Budget and Accounting Act of 1921 created the modern federal budget

Before 1921, federal funding was fragmented and ad hoc. This article traces how inefficiency and postwar pressures led Congress to pass the Budget and Accounting Act, creating a standardized, centralized federal budgeting process.

Citizens United extended First Amendment protections to corporate political spending

The Supreme Court's 2010 decision struck down limits on independent political expenditures by corporations and other organizations, ruling that such spending is protected speech—a decision that was deeply contested and reshaped campaign finance law.

Cheap debt and relatively minimal regulation fueled private equity's expansion

Low interest rates in the 2010s made taking on debt cheap, making leveraged buyouts incredibly lucrative. Private equity firms were able to make large deals quickly, in part because they don't face the same disclosure requirements and shareholder approval processes as public companies. These two factors juiced the growth of private funds.

Commodity trading is regulated by the CFTC to mitigate fraud and risk

Established in 1974, the CFTC regulates these markets (including swaps, futures, and certain types of options) to protect market participants from fraud, ensure fair trading conditions, and generally reduce financial risk.

Consumer spending accounts for 70% of US GDP, making Black Friday significant

Lizabeth Cohen, a history professor at Harvard and author of the book “A Consumer's Republic: The Politics Of Mass Consumption In Postwar America,” has argued that the US government has presented consumerism as a way out of economic crisis or decline since around World War II.

Bills passed during the Civil War shaped postwar America

Despite the war with the South, Congress passed transformative laws like the Homestead Act and the Morrill Land-Grant College Act, which encouraged westward settlement and expanded higher education.

Pioneered by JP Morgan, credit default swaps are a form of financial derivatives that act as insurance policies for banks issuing assets created with risky loans.

Section 230 is the law that shaped the modern internet—and free speech online

Passed as part of the Communications Decency Act, Section 230 shields online platforms from legal liability for user-generated content while allowing them to moderate it and host speech freely, making it one of the most debated laws governing free expression today.

The federal debt ceiling 101

The debt ceiling periodically takes center stage as Congress debates whether to increase or suspend this self-imposed limit on its borrowing authority. Learn the basics on this crucial feature of US fiscal policy with this Q&A.

The financial crisis in 2008 had a major impact on many 401(k) plans

Amid the 2008 financial crisis, stocks and bonds cratered as the broader market floundered due to the subprime mortgage crisis. Investors with so-called "target-date" funds—which shift allocations based on the maturation of a fund—shared in the slump, with some funds declining by 20% or more just a year or two away from maturation.

The Federal Reserve didn't institute an official no comment period before meetings until 2011

Although Fed governors have largely practiced some version of a blackout period before Federal Open Market Committee meetings where the board decides where interest rates should be since the 1980s, the official blackout period wasn't formalized until 2011. During the blackout, members of the Federal Reserve generally aren't allowed to speak publicly on macroeconomic or monetary policy in order to avoid any confusion over the board's decisions.

US lawmakers banned TikTok in 2024 for security purposes

After years of concerns about ByteDance Ltd.'s affiliation with the Chinese government, Congress passed a bill banning TikTok in the US. The main argument favoring the ban is that Beijing could use the wildly popular app to run foreign influence campaigns. Americans opposed to the ban say the law will negatively impact the livelihoods for TikTok shops and influencers.

Bill of Rights Day is commemorated annually in the United States on Dec. 15

The date marks the 1791 ratification of the first 10 amendments. President Franklin D. Roosevelt officially established Bill of Rights Day in 1941, on the document's 150th anniversary. Hear the speech he gave on that day.

The framers feared creating another monarchy through an unchecked executive

Having rebelled against British royal power, the framers deliberately limited the presidency—balancing "energy in the executive" with safeguards against tyranny. Debate at the 1787 Constitutional Convention centered on preventing any return to monarchical rule.

Fintech could help democratize access to banking

More than 1.3 billion adults worldwide do not have access to basic banking services as of this writing—but some experts believe that the fintech industry can help with that by targeting groups of people who have historically been underserved by traditional banks.

Thousands of state voting changes have been federally blocked since the Voting Rights Act

Since 1965, federal oversight has blocked thousands of state-level voting changes—including redistricting plans—by requiring approval for measures that could affect minority representation, a process scaled back by the Supreme Court in 2013.

The Occupy Wall Street protests lasted 59 days

After the 2008 recession, one of the main slogans of Occupy Wall Street was, “We are the 99%,” alluding to the wealth disparity between America’s wealthiest 1% of all households and the rest of the country.

The Fair Labor Standards Act regulated child labor and introduced many protections

Child labor was widespread until the formation of the National Child Labor Committee, which hired photographer Lewis Hine to document conditions. His images spurred reform efforts like the Keating-Owen Act in 1916, which was overturned by the Supreme Court. Progress came in 1938 with the Fair Labor Standards Act.

Many politicians join private equity firms after leaving Washington

Both Democrats and Republicans have a history of leaving politics to work in private equity, raising concerns about the government's protection of private equity firms.

The US-led global debt settlement market is expected to expand from $4.8B in 2024 to $7.2B by 2032

While debt settlement companies aren't technically allowed to charge fees until after lowering a consumer's debt, a loophole in the Telemarketing Sales Rule (a mix of federal and state laws) gives predatory firms the opportunity to exploit consumers.

The Dow remains a shorthand for America’s economic health

For over a century, the Dow Jones Industrial Average has been one of the most closely watched market barometers. Its rises and falls dominate headlines and politics, shaping how Americans perceive the strength of their economy.

Issues of ICE conduct span multiple Republican and Democratic administrations

Complaints of abuse and harsh treatment increased as detentions and deportations of undocumented immigrants reached record levels during former President Barack Obama's first term. Frontline investigated the causes of these claims in 2011 and found that these issues cross party lines.

In 2025, President Donald Trump signed an order shrinking the Department of Education

On March 20, 2025, President Donald Trump issued an executive order to “take all necessary steps to facilitate the closure” of the U.S. Department of Education, though complete dismantlement requires congressional approval.

Title IX was signed into law in 1972

Title IX of the Education Amendments Act, signed into law by President Richard Nixon on June 23, 1972, prohibits sex-based discrimination in federally funded education programs. In its five-plus decades, it's been credited with increasing the number of women enrolled in college and shaping the modern world of women’s sports.