The 2,300 or so pages that make up the Dodd-Frank Wall Street Reform and Consumer Protection Act affect just about every aspect of Wall Street. Signed into law in July 2010, “Dodd-Frank,” as it is more commonly known, is considered by some to be the most draconian regulatory reform to our financial systems since the Great Depression.
The scope of Dodd-Frank, however, is not limited to the financial services industry. Buried between Section 1501, “Restrictions on use of United States funds for foreign governments;protection of American taxpayers” and Section 1503, “Reporting Requirements Regarding Coal or Other Mine Safety” is Section 1502—Conflict Minerals. The intent of the legislation is to deter violence and human rights violations in countries funded by trading in certain minerals.