The purpose of this paper is to analyze, critically review, and determine whether a hypothetical credit rating agency board, as suggested in the Franken-Wicker Amendment to the Dodd-Frank Act, is a viable option for combating the conflict of interest problem between credit rating agencies and issuers. Research methodology includes a careful review of various ways to structure the board and the potential unintended consequences of doing so. The Author uses original research hand-collected from video of the Credit Ratings Roundtable conducted in Washington D.C. on May 14, 2013. The Credit Ratings Roundtable brought together experts from the credit rating industry and government to discuss the viability of a credit rating agency board. After reviewing the research, the paper concludes, while the credit rating agency board will be difficult to implement and may have various negative unintended consequences, it is currently the best option available to break the conflict of interest.