Former Mass. Congressman Barney Frank Talks Impact Of Dodd-Frank Act 5 Years Later

It was five years ago that a law went into effect causing what are considered the greatest changes to American financial regulations since the New Deal.

The goal of the Dodd-Frank Act is more accountability and transparency in the financial industry, especially after the recession. But critics say the law is harming the economy. The law is named after its sponsors, former Connecticut Sen. Christopher Dodd and former Rep. Barney Frank.

Frank joins Morning Edition ahead of an expected speech critical of the law by Texas Congressman Jeb Hensarling, who now holds Frank's old post as chairman of the House Financial Services Committee.