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Report: Dodd-Frank Act Does Not End Too Big to Fail But Perpetuates It as Official Policy

“House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Oversight and Investigations Subcommittee Chairman Patrick McHenry (R-NC) today released a committee staff report [prepared by the Republican Staff of the Committee on Financial Services] that concludes the Dodd-Frank Act did not end “too big to fail” as the law’s supporters claim, but actually had the opposite effect of further entrenching “too big to fail” as official government policy. The report, titled Failing to End Too Big to Fail: An Assessment of the Dodd-Frank Act Four Years Later, comes just days before the fourth anniversary of the signing of the Dodd-Frank Act into law by President Obama.  The report is the result of the Committee’s investigation into Dodd-Frank’s provisions regarding bailouts and “too big to fail.” The report also examines the causes of the 2008 financial crisis and the bailouts Washington gave to large, complex financial institutions.” 

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