Rep. Spencer Bachus, R-Ala., recently released a report that outlines the effects of the Dodd-Frank Act on small banks, international competitiveness of larger financial institutions and other entities. The report's conclusion, according to the chairman of the Financial Services Committee, is that the law has not met expectations. "When we look back over the past year, it is clear that Dodd-Frank has failed to live up to any of its promises," Bachus said. "The Dodd-Frank Act burdens the private sector with 400 new federal regulations over the next several years."
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