Can anyone fill me in on the difference between operating as a “dual employee” vs an “Independent contractor” in a bank setting?

  Right now I am a W2 employee with a bank with a forgivable draw and full benefits.   Bank is moving to making the reps "Independent Contractors" - full commission - and paying via 1099 with no benefits.   I believe there are restrictions on what the "employer" is allowed to do/not do or can/cannot tell the rep to do when they are no longer techinally an employee, but I do not know the details.   What's the benefit of staying in the bank?  Will I now have to pay for office space, and all other items as if I had an office down the street and was truly Independent?