Dodd-Frank Wall Street Reform and Consumer Protection Act

[AI summary unavailable — showing source text] Wall Street Reform and Consumer Protection Act of 2009 - Financial Stability Improvement Act of 2009 - Directs the Comptroller General to audit and report to Congress on all actions taken by the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Federal Reserve Banks during the current economic crisis pursuant to specified authority granted under the Federal Reserve Act. Establishes a Financial Services Oversight Council, consisting of the heads of specified federal financial regulatory bodies and chaired by the Secretary of the Treasury, to: (1) resolve a dispute among two or more federal financial regulatory agencies in specified circumstances; (2) subject a financial company to stricter prudential standards; and (3) require a financial holding company to undertake one or more mitigatory actions to address any grave threat its activities pose to the financial stability or economy of the United States. Directs the Federal Reserve Board to impose stricter prudential standards on a financial holding company in certain circumstances. Authorizes the Council to subject a financial activity or practice to stricter prudential standards for financial stabilit…