Three years after President Obama signed a sweeping overhaul of lending and high-finance rules, scores of regulations are yet to be written, let alone enforced. In a private meeting on Monday, the president prodded bank regulators to execute the law swiftly.
The president’s push for action comes as the five-year anniversary of the nation’s financial near-meltdown approaches. The law, when passed in 2010, was considered a milestone in Mr. Obama’s presidency, a robust response to the crisis that led to a massive government bailout to stabilize the financial markets. However, according to one report, regulators have only finished around 60 percent of the major actions the law requires of them.