Dodd-Frank Act Flawed But Fixable, Senate Panel Hears

Law360, New York (June 7, 2016, 4:05 PM EDT) -- Legal and financial experts told a Senate committee Tuesday that the Dodd-Frank Act is flawed, complex and sometimes counterproductive but could be fixed, shying away from calling for an all-out repeal as some Republican lawmakers have.

Professor Marvin Goodfriend of Carnegie Mellon University’s school of business said that as smaller institutions lend money back to banks, Dodd-Frank is increasing the “round-tripping” of money and making the financial system more unstable — thereby working against the problem the legislation was trying to solve.

   Paul H. Kupiec...
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