One of the hallmarks of the Dodd-Frank bill was the creation of the Office of Financial Research (OFR), an agency dedicated to collecting and sifting data from financial firms to help predict the next crisis.

More than a year after the law's passage, however, it's clear regulators are still struggling to implement the agency's mission. At a recent conference hosted by the Financial Stability Oversight Council dedicated to helping to set up the OFR, Treasury Secretary Tim Geithner equated the challenge with trying to predict the weather.

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