Watch a breakdown of 'The Volcker Rule,' which stopped banks from being able to make trades with client money and is one of the most controversial financial regulations to date.

Passed in 2010 in the fallout of the Great Recession, the Dodd-Frank Wall Street Reform and Consumer Protection Act was the most significant financial reform since the Great Depression.

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

Read a breakdown of the different financial and banking regulatory bodies in the US, including the SEC.

Watch former Securities and Exchange Commission Chair Gary Gensler's 'Eras Tour' for the agency's 90th anniversary, a look back on the pivotal moments in the agency's history.

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.

No institution wields more power in US finance than the Federal Reserve, the central bank of the US—but opinion polls indicate that most Americans don't know what it does.

Prior to the creation of the Securities and Exchange Commission, the 1913 Pujo Committee determined that 180 people were managing more than $22B of the entire nation's wealth and recommended extensive regulations.

Congress banned banks from paying checking account interest for 80 years

Known as "Regulation Q," the act sought to stop bank competition for customers involving increasing interest rates in the 1930s. This competition led banks to make reckless investment decisions to pay higher interest rates. During the ban, banks competed by focusing on convenience (ATMs, branches), relying on fees, and building relationships.

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 However, by 1999, the act was repealed—meaning that today’s investment banks are no longer required to be separate from the type of bank where you deposit your paycheck.

BlackRock sponsored the Federal Reserve's purchasing of corporate debt through exchange-traded funds during the COVID-19 pandemic, while it simultaneously sold some of its own shares on the secondary market—sparking controversy over potentially unfair advantages.

BlackRock played an integral role in the Federal Reserve's response to the Great Recession, managing about $30B of hard-to-sell Bear Stearns assets on behalf of the New York Fed.

The Securities and Exchange Commission was created during the Great Depression to restore public trust in financial markets after the 1929 crash.

Bank runs, explained

A major feature of the modern financial system is trust: if an institution loses it, customers will quickly withdraw deposits and stockholders will sell their shares. This digestible animated video looks into the nature and history of bank runs and...

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.

The Federal Reserve is the most powerful financial institution in the US

The Fed controls the money supply, determines interest rates, and regulates the banking system. Established in 1913 after a volatile series of financial panics, the central bank has managed to retain its legitimacy despite broad critiques against its obscure and independent decision process.

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

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.

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.

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.

Explaining the collapse of Silicon Valley Bank

In March 2023, Silicon Valley Bank—the nation's 16th largest bank at the time—collapsed after a rapid run on its deposits. Among other factors, the bank had placed more than half of its investments into long-term bonds, leaving it without the necessary cash on hand as its clients, largely start ups, panicked and withdrew their money at the same time. This visualization lays out the timeline and impact of the collapse.

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.

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.

Time magazine named Ray Dalio one of the 100 most influential people in 2012

Dalio's profile, written by former Federal Reserve Chairman Paul Volcker, praised Dalio for his investment strategy and his deep understanding of economics, if unorthodox at times. Volcker particularly appreciated Dalio's support for the Federal Reserve's handling of the 2008 financial crisis. Dalio and Volcker were longtime friends—Dalio has referred to Volcker as "the most principled man" he knows.

A star investment banker was fired, launching a decade-long court fight

Star bankers are the core of an investment banking firm's business, so when Perella Weinberg let their restructuring guru Mike Kramer go in 2015, he sued, launching a ten-year legal fight.

Before Lehman Brothers filed for bankruptcy in 2008 with more than $600B in debt, the Federal Reserve tried to orchestrate a private deal to save the then-fourth-largest investment bank in the US.

A landmark hedge fund court case once reshaped high finance

Hedge fund traders tied to insider trading by probing prosecutors are relatively rare. When billionaire hedge fund legend Steve Cohen, founder of SAC Capital, pleaded guilty to trading on inside information, Wall Street trembled. The outcome of the case remains a cautionary tale for traders today.

Early Americans hated the idea of a central bank

After a series of economic panics induced by a lack of reserve cash at regional banks, the architects of today’s Federal Reserve opted to emphasize the goal of the bank as a reserve at the federal level—thus creating the lasting name.

Get the inside story of the duck hunt that birthed the Federal Reserve

Pseudo-duck hunters, private train cars in Hoboken, and a thrilling work week over Thanksgiving 1910—all and more are featured in the wild story of how a group of fed-up bankers and lawmakers tried to create an enduring central bank for the US. Records of the meeting managed to remain hidden for decades.

Some experts and investors think short selling—a strategy in which investors bet that a stock will drop in value—helps keep the market healthy.

The central bank was designed to operate free of short-term political influence to prevent the Fed from making disastrous policy decisions

Although the Fed Chair and the six other Governors of the Board are appointed by the US president and approved by Congress, the Fed is not funded by congressional appropriation, and its board members are appointed to lengthy 14-year terms.

The 2008 financial system unraveled in a wave of speculation

Michael Lewis—author of the bestselling "The Big Short"—explains how a wave of speculation (among other factors) drove the 2008 collapse, from lenders issuing risky mortgages to Wall Street turning them into fragile securities. He also highlights the few outsiders who recognized the bubble and bet against it before the crash.

Largely considered to be the inspiration for Gordon Gekko in the movie 'Wall Street,' Ivan Boesky was one of the most high-profile white-collar criminals and faced a $100M fine for insider trading in 1986.

Hear why one short seller thinks short selling is now more important than ever.