Dodd-Frank Wall street Reform and Consumer protection Act. A law drafted in the wake of the 2008 financial crisis and designed primarily to promote the financial stability of the United States via improved regulation of the financial services industry and particularly over-the-counter (OTC) derivative products. The key aims of the legislation are to improve accountability and transparency in the financial system, to end the mindset that certain institutions are 'too big to fail,' to protect the American taxpayer by ending bailouts and to protect consumers from abusive financial services practices.