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Dear friend, When President Obama was inaugurated on January 20, 2009, the United States was in the middle of the worst economic crisis since the 1930s. Hundreds of thousands of people were losing their jobs each week, thousands of businesses were closing their doors, and we faced an economic collapse unlike any we’ve experienced since the Great Depression. Immediately upon taking office, President Obama put in place a number of measures to stabilize the economy and get Americans back to work. But the financial crisis made clear just how much basic economic protections for the middle class had eroded over decades and the disproportionate effects felt by communities of color. The President was determined to enact a broader set of reforms that would help rebuild the economy on a stronger foundation, and expand opportunity for all Americans: the Dodd-Frank Wall Street Reform and Consumer Protection Act. President Obama signed Dodd-Frank into law ten years ago today, restructuring the American financial system and creating the Consumer Financial Protection Bureau. Watch our video commemorating this important chapter, featuring the voices of those who made it possible: President Obama, Senator Elizabeth Warren, Timothy Geithner, and more.   For me and for so many others who were a part of President Obama’s administration, that work was deeply personal. I came from a community where people I knew were losing their homes due to the financial crisis. Serving as chief of staff at the CFPB was a way to do something that would directly impact their lives and futures. Ten years later, as our country finds itself in the middle of another recession, it’s worth looking back at how President Obama approached the crisis he inherited. Taking on these enormous challenges isn't easy. There will always be those who say it can't get done, or who will stand in the way of change. But the passage of Dodd-Frank speaks to the potential for progress that can be achieved when we put in the work. —Wally Wally Adeyemo President, Obama Foundation Donate to empower rising leaders bringing hope to their communities.   DONATE NOW