After the 2008 financial crisis, lawmakers decided they needed to do something about the banking industry. The government had bailed out big banks like Wells Fargo, Bank of America, and JPMorgan Chase, and wanted to prevent another crisis.
The response was the Dodd-Frank Wall Street Reform and Consumer Protection Act (aka Dodd-Frank), which was signed into law in 2010. In hundreds of pages, the law transformed the way finance is regulated in this country.
Now, President Donald Trump has made it clear he does not like Dodd-Frank and wants to make big changes.