• The Dodd-Frank Act is the law officially known as the Dodd-Frank Wall Street Reform and Defense Act (Dodd-Frank). This 2010 law introduced dramatic changes to the national system of financial regulation. It was passed to make the US financial system more transparent and accountable, and to prevent a financial crisis like the one that occurred in 2008. Three specific provisions of the Dodd-Frank Act are likely to increase the nature and scope of legal liability faced by corporate directors and officers. . These include: (1) the “return” clause, (2) the whistleblower clause, and (3) the “application for payment” clause.