This is the Cato Daily Podcast for Tuesday, November 13th, 2018.

I'm Caleb Brown.

One of the leading critics of greater regulation of financial markets is Todd Zawiki, professor of law at

George Mason University. Today Zawiki joins the Kido Institute as a senior fellow.

We spoke last week about the state of efforts to regulate financial markets and some of his other scholarly pursuits.

Donald Trump got some pretty big applause lines on the campaign trail with respect to Dodd-Frank and I suspect a lot of that was what

the effects that Dodd-Frank had on consumer credit. Can you give me a sense of where that stands right now? It doesn't seem like it's

been any part of his agenda since he became president.

The interesting thing about Dodd-Frank and I've been touring the country

talking about Dodd-Frank for years now is Dodd-Frank was supposed to do one thing

which was to get rid of too big to fail and as I've spoken all around the country including the

congressional staffers when you ask a show of hands there's basically not a single

person in America who believes that Dodd-Frank did the one thing it was supposed to do

which is get rid of too big to fail.

2,400 pages of law, tens of thousands of pages of regulation, tens of billions of dollars

in compliance costs, and they didn't solve the one problem

that they were supposed to solve. All of Dodd-Frank has that same sort of flavor

to it including the consumer credit provisions. They moved a regulatory reform bill of course this spring.

There's really aimed at lifting the burden on small banks and medium-sized banks,

but they haven't really gotten to the heart of the issue.

And I think what does resonate with a lot of people is the Consumer Financial Protection Bureau.

And there are now, as the acting director, Mick Mulvvaney calls at the Bureau of Consumer Financial Protection.

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