U.S. Deputy Treasury Secretary Neal Wolin said there's no evidence that the Dodd-Frank financial overhaul law has had any "negative effect" on the financial system.

Wolin, in an interview with CNBC television today, also said the costs of implementing Dodd-Frank are a "pittance" compared with those associated with the financial crisis.

"I think that there is no evidence frankly that the Dodd- Frank legislation or the bits and pieces that are being implemented as we go forward have had any negative effect on our financial system," Wolin said. "Fundamentally, it is putting our financial system in a much stronger, much safer, much more robust position."

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