Barney Frank was one of the people most responsible for overhauling financial regulation after the 2008 economic crisis. After retiring from Congress, he supported a change to his own law that would benefit midsize banks, and joined the board of such a bank. 

Last week, that bank failed. David Enrich called Mr. Frank and asked him to explain.

Guest: David Enrich, the business investigations editor at The New York Times.

Background reading: 

• Officials with Signature and Silicon Valley banks, which regulators seized in recent days, had called for looser financial requirements for midsize banks.
• Here’s why people are worried about banks.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.