Trading losses caused some headaches during the financial crisis, but it was bad mortgage lending that really hurt big banks like Bank of America (NYSE:BAC). While some argue separating investment banking operations and commercial banking activities would solve all of the financial problems, the actually picture may be a bit murkier.In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson discuss the Volcker rule, Glass-Steagall, and Bank of America.

David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.