Growth in Consumer Credit - Affected by Regulation?

These figures from the Federal Reserve show a somewhat consistent rise in consumer credit held by various types of financial institutions, banks, credit unions, finance companies, etc. from 2012 to February 2017. Barring some obvious dips in certain types of credit for certain institutions, the trend is up. This would seem to counter suggestions that Dodd-Frank, which became effective starting in 2013, has restrained lenders. Is the argument that were it not for Dodd-Frank the numbers would be higher? I can think of a lot of other factors at play and certainly if you looked only at individual credit products or type of financial institution there might be a different story.