CARLSBAD, Calif. — The debate over big banks' size and complexity is unnecessary in the wake of the Dodd-Frank Act's reforms to the banking system, Wells Fargo Chief Executive John Stumpf said Thursday.

Industry critics are once again questioning whether some banks are "too big to fail," especially after Attorney General Eric Holder said that some are at least too big to prosecute for financial crimes. But Stumpf, the head of the country's fourth-largest bank, rebutted that argument in a speech at a conference on Thursday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.