On Wednesday, for the first time in 10 years, the CEOs of America’s largest banks will appear before Congress to testify at the Financial Services Committee. The last time these banks were assembled before the committee, Chairman Barney Frank, D-Mass., sat atop the dais and the economy had just suffered its biggest shock since the Great Depression. Our financial services industry and consumers were trying to regain their footing and make sense of it all. Not long after, Frank and Democrats were celebrating passage of the Dodd-Frank Act, the most intrusive and expansive set of regulations experienced by our financial system since the Great Depression.

In the intervening years since Dodd-Frank’s passage, the Democrats appear to have buyers’ remorse with their creation. With more than 400 regulations issued to date, it’s hardly surprising that there have been major unintended consequences. Yet instead of working to unwind the anti-competitive policies they embraced, Democrats continue to use their bully pulpit to browbeat the remaining market participants.