Lew spars with senators over capital requirements, too-big-to-fail

The leader of the federal panel tasked with identifying and addressing threats to U.S. financial stability told a U.S. Senate committee that regulators should be permitted to enact existing financial reforms before policymakers determine whether to take additional steps to end too-big-to-fail. Treasury Secretary Jacob Lew, chairman of the Financial Stability Oversight Council, discussed issues ranging from capital requirements to cross-border regulatory coordination during a May 21 hearing before the Senate Banking Committee. Read on for the details.