The Dodd-Frank Wall Street Reform and Consumer Protection Act on Monday marks its fourth anniversary since being signed into law. White & Case Banking partner Ernie Patrikis tells TheStreet's Joe Deaux that the sweeping financial reform represents good, bad and ugly changes to Wall Street and the too big to fail firms that nearly brought down the financial system. Patrikis says the Consumer Financial Protection Board is a good idea, but that it hasn't been run correctly. Patrikis says he thinks a lot of the rules written into Dodd-Frank could have been handled by the Federal Reserve.

More from Video

Immigration, Instagram and Oil - Here's What You Can't Miss Wednesday

Immigration, Instagram and Oil - Here's What You Can't Miss Wednesday

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

3 Ways to Fix Starbucks Biggest Challenges

3 Ways to Fix Starbucks Biggest Challenges

2 Things Fed Chairman Jerome Powell Just Said Upset Investors

2 Things Fed Chairman Jerome Powell Just Said Upset Investors

Jim Cramer: Oil Needs to Go Down to See Worldwide Growth Pick Up

Jim Cramer: Oil Needs to Go Down to See Worldwide Growth Pick Up