Frequent contributor Mayra Rodriguez Valladares countered lawmakers’ argument that regulation was hindering U.S. banks’ global competitiveness. Ahead of a House subcommittee meeting on the topic she wrote, “While imperfect, it is important to remember the main reason legislators passed Dodd-Frank was because of the havoc that badly managed, undercapitalized U.S. financial institutions and their use of unregulated, opaque over-the-counter derivatives wreaked on the global economy. Implementation is critical to reform Wall Street and to protect consumers.”