ABSTRACT

This chapter focuses on important movements away from regulation that have occurred in the past decades. In the late 1960s, the impact of regulation first came into serious question, when it was discovered that fares on unregulated intrastate routes were much lower than fares on comparable regulated routes. Not surprisingly, it is easier to understand the theory underlying financial regulation than to get it right in practice. The chapter also focuses on Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The bill addresses the following five categories of regulation: Although the bill was signed into law in July 2010, as of a year later, it is unclear what the fate of the legislation is, let alone how it would affect the conduct of financial institutions. The chapter talks about the Public Utility Act. In 1935, Congress passed the Public Utility Act establishing the Federal Power Commission (FPC) to regulate the interstate aspects of the electricity industry.