The House of Representatives is expected to vote today on a bill that would revise the Volcker Rule of the Dodd-Frank Act. The bill, which will give financial institutions an additional two years to sell off risky holdings, is most likely to pass.

Since the Dodd-Frank Act passed in 2010, the financial industry has worked tirelessly to chip away at the law.

“The strategy on Dodd-Frank is death by a thousand cuts,” said Marcus Stanley, policy director of Americans for Financial Reform, a group that is in favor of more regulation.

Wall Street’s lobbyists know how to get bills passed. Jargon laden legislation regarding banking procedures is sent to the House where it has a good chance of passing thanks to the Republican majority. Then, the bill is tacked on to a larger, more important piece of legislation, one that must get passed such as a spending bill.

“This all works together: Put it up for stand-alone vote, get some Democrats on it, and then when you push it onto a must-pass bill, say it’s a bipartisan bill that’s already passed,” said Mr. Stanley.

The bills also have deceptively appealing titles. The bill currently being debated is called the “Promoting Job Creation and Reducing Small Business Burdens Act.” Lawmakers sought to fast track the bill last week, however, they failed to get the necessary two-thirds majority vote. The vote today only requires a simple majority to pass.

The Dodd-Frank Act is often likened to the Affordable Care Act as the signature pieces of legislation by President Obama. Yet while Obamacare, as it is known, has managed to withstand much opposition, the Dodd-Frank Act is in danger of withering away.

“The president was slow in drawing the same kind of line on financial reform that he did on health care,” said Barney Frank, the retired chairman of the House Financial Services Committee who helped write Dodd-Frank.

Obamacare has powerful allies among hospitals, insurance companies and pharmaceutical manufactures. The Dodd-Frank is not so fortunate. Indeed, at time it seems like there is very little defending the act from the ruthless assaults of the financial industry.

The stated purpose of the Dodd-Frank Act is “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.”

The act was passed in 2010 in answer to the economic recession.