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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