Earlier this month, JPMorgan disclosed that it lost at least $3 billion in trading as a result of sheer mismanagement. The news ignited a fresh debate on financial regulation – specifically on the Volcker rule, a measure Dimon had vocally opposed. Yet it's not certain the final Volcker rule would prohibit the kind of trades that led to JP Morgan's losses. So how are banking regulations written in the first place?

Three years after America's largest financial collapse since the Great Depression, the country is still recovering. Some banks have received huge bailouts, but countless Americans are still struggling to get back on their feet. A new four-hour documentary, "Money, Power and Wall Street" investigates what has been done (and not done) to secure America's financial future. Michael Kirk is one of the producers of "Money, Power and Wall Street," which will premiere on Frontline April 24 and May 1 on your local PBS station.

This week marks the one-year anniversary of President Obama signing the Dodd-Frank Wall Street Reform Bill into law. A key component of that bill was the establishment of a Consumer Financial Protection Bureau (CFPB), which will open its doors on Thursday. Yesterday, Obama announced Elizabeth Warren — the progressive icon who was charged with setting up the CFPB — will not be heading the new agency. In other news, the first legal same-sex marriages will take place in New York next weekend, and the nation's biggest banks will release their latest quarterly earnings statements.

It's been almost a year after Congress passed the Dodd-Frank financial regulatory law and many of the legislation’s rules are behind schedule. Regulators have extended the comment periods on the rules under pressure from Wall Street and Congress. "You have a lot of people on Wall Street who are concerned that they need lots of time to put rules in effect," says Louise Story, Wall Street and finance reporter for The New York Times. However, "the longer it takes for the regulations to go into effect, the longer the banks have to make money off of the derivatives." She details the need for the bill and the cause of the delays.

Almost two years after the financial meltdown that triggered a recession, Congress has passed a sweeping a financial reform law. The Senate approved the bill with a 60-39 vote yesterday, largely along party lines. The bill now awaits President Obama's signature. Takeaway Washington correspondent, Todd Zwillich, reports on how regulators now have their work cut out for them.