The Dodd-Frank bill was passed in response to the financial crisis. The intent was to reduce the potential for future financial crises. The Wall Street banks have been chipping away at the bill so that it does not affect their ability to make money. This article, and many of the comments that follow, describes the sections of Dodd-Frank that the banks have effectively neutered. The Republican Party led the attack, and they used a familiar form of political blackmail to gain support from democrats. The changes to Dodd-Frank were included in a budget spending bill which was needed to keep the government from shutting down. The Obama Administration determined that the spending bill was better than it would otherwise get from the GOP House.
The public uproar about the financial crisis, and the extensive use of taxpayer funds to bail out the banks that were responsible for the crisis, enabled the passage of Dodd-Frank. Some of the strongest objections to the bailout came from the Tea Party wing of the Republican Party. One might expect that the Tea Partiers would object to the GOP efforts to support Wall Street. They seem to have a short memory. On the other hand, the Tea Partiers also oppose government regulation. Consequently, the establishment wing of the GOP has been able to position its opposition to Dodd-Frank as an attack on excessive government regulation.