With several key promises of the Dodd-Frank Wall Street Reform and Consumer Protection Act still unfulfilled, “Americans cannot be comforted that Wall Street will not wreak havoc again,” according to a new report from the watchdog group Public Citizen.

“Five years after President Barack Obama signed this legislation, Dodd-Frank remains largely incomplete,” said Bartlett Naylor, Public Citizen’s financial policy advocate and author of the report, (pdf), published Tuesday.

“Major portions of the law have yet to be codified into specific rules,” Naylor explained. “Many enforcement dates are set well into the future, and certain rules are not yet being implemented and enforced to the fullest extent of the law.”

Dodd-Frank, signed into law five years ago Tuesday, “promised that America would never again be held hostage by banks that are too big to fail, but that promise remains unfulfilled,” Public Citizen said in a statement. “Instead, industry-captured regulators and members of Congress hungry for campaign contributions from Wall Street continue to delay and dilute the law.”

In fact, of the 390 rules required by the law, fewer than two-thirds have been completed; 60 rules have yet to be finalized, while another 83 have not even been proposed, according to a tally by law firm Davis Polk.

The report specifically looks at the status of key Dodd-Frank provisions including the Volcker Rule, which bans proprietary trading or short-term speculation; the “living will” stipulation empowering regulators to break up big banks that don’t provide a “credible” plan for an orderly resolution under the bankruptcy code should they fail; and restrictions on banker pay schemes that reward excessive risk-taking.

In all three areas, regulation has been stalled or stymied, Public Citizen declares—a reality the report attributes to the revolving door between Wall Street and Washington, D.C.