U.S. Deputy Treasury Secretary Neal Wolin said it should be harder and costlier for banks to be bigger.
“Dodd-Frank includes very very tough increases in capital requirements, liquidity requirements, constraints on a whole set of things that are about making sure we take care of and pay attention to the size and scope,” Wolin said today on CNBC television.
His comments come after Sanford “Sandy” Weill, whose creation of Citigroup Inc. ushered in the era of U.S. banking conglomerates, said it’s time to break up the largest banks to avoid more bailouts.
To contact the reporters on this story: Cheyenne Hopkins in Baltimore at Chopkins19@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at firstname.lastname@example.org