Four years after the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, its co-authors told CNBC the law was doing its job, but said it certainly isn't the last chapter in regulating Wall Street and private equity firms.
"We didn't pass the Ten Commandments. We talked about a bill here, giving regulators the ability to modernize the architecture of our financial services industry," said former Sen. Christopher Dodd, who authored the law with former Rep. Barney Frank.
"Barney and I never envisioned we'd written the last and final chapter here of financial reform."
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The law was intended to provide stronger regulation of Wall Street the wake of the 2008 financial crisis. Republicans marked the anniversary Monday by releasing a report outlining the bill's failures. Four years later, not all of the required rules have been proposed.