Activists protest in front of the DC office of Goldman Sachs November 16, 2009 in Washington, DC. The protest was held to "demand an end to the Too Big To Fail doctrine.

Activists protest in front of the DC office of Goldman Sachs November 16, 2009 in Washington, DC. The protest was held to "demand an end to the Too Big To Fail doctrine. Alex Wong/Getty Images

The Senate is set to eliminate many restrictions that were placed on banks in the wake of the last global financial crisis with an overhaul of the law known as Dodd-Frank.

The Dodd–Frank Wall Street Reform and Consumer Protection Act was passed in 2010 “to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.”

A new Senate bill removes some of the regulations Dodd-Frank imposed. Supporters say it’s overdue and hardly makes a dent in the way of reform. Critics say it’s reckless.

Who’s right? And what will it mean for you?

Guests

  • Sen. Bernie Sanders Member, U.S. Senate (I-Vt.); author of "The Speech: A Historic Filibuster on Corporate Greed and the Decline of Our Middle Class."
  • Evan Weinberger Assistant managing editor, Bloomberg Law
  • Joe Valenti Director of Consumer Finance, Center for American Progress
  • Paul Merski Executive vice president and chief economist, Independent Community Bankers of America

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