WASHINGTON — Lawmakers and financial market participants sparred Tuesday over the economic and other impacts of the Dodd-Frank law, as well as the resulting Volcker Rule and potential new money market fund rules.

During a hearing held Tuesday by the House Financial Services Committee’s capital markets panel, Rep. Scott Garrett, R-N.J., claimed Dodd-Frank is “one of the main reasons that there has been such a tepid economic growth over the last several years.” He and other Republicans criticized its costs, saying they outweigh the benefits.

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