The fifth anniversary of the Dodd-Frank legislation is an opportune time to resume the debate on whether it has achieved or failed to meet its goal of overhauling U.S. financial regulations. Enacted in July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was a response to the 2007-2008 financial crisis and the economic slump that followed. Critics say the legislation has ushered in excessive regulations that have shrunk the market for community banks while benefitting larger ones; driven low-income borrowers in particular to unregulated lenders, and failed to bring clarity on how it can prevent bailouts of institutions viewed as too big to fail. But supporters contend that Dodd-Frank has made the U.S. financial system safer, enhanced consumer protection, regulated previously unregulated derivatives markets and encouraged multiple regulatory agencies to collaborate.…