Mason Law Faculty Testify on Impact of Dodd-Frank Act
Professor Todd J. Zywicki and the Honorable C. Boyden Gray testified before the House Financial Services Committee on September 17, 2015. The hearing, entitled The Dodd-Frank Act Five Years Later: Are We More Free?, examined the legislation’s impact on the rule of law and individual liberty.
“Americans are less free as a result of Dodd-Frank and what it has spawned,” Zywicki testified. “In particular, the financial crisis and the legislation and regulation that has followed in its wake have weakened the rule of law, centralized vast amounts of authority in the hands of unaccountable political bureaucracies, unleashed arbitrary regulatory discretion, and empowered interest groups beyond any time in American history.”
Speaking on the structural unconstitutionality of Titles I, II, and X of Dodd-Frank, Gray said that each “violates the Constitution’s separation of powers, its checks and balances, and each raises a host of other constitutional or practical problems.”