The following video is part of our "Motley Fool Conversations" series, in which columnist Morgan Housel discusses topics across the investing world.

Mitt Romney has vowed to repeal the Dodd-Frank financial reform act if elected president. Conventional wisdom says that will be great news for big banks like Citigroup (NYSE:C), Bank of America (NYSE:BAC), and JPMorgan Chase (NYSE:JPM). But that might not be the case. Watch here to find out why.

Fool contributor Morgan Housel owns preferred shares of Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.