Acting Comptroller of the Currency Michael Hsu said:
- Big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapses
- A bank’s failure to resolve longstanding deficiencies despite reprimands from its regulators and onerous restrictions such as caps on its growth are evidence that a firm is unmanageable and needs to be broken up
Hsu was speaking at the Brookings Institution, a Washington think tank.
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