WASHINGTON — The Dodd-Frank Act may cast too wide a net when determining which institutions pose a systemic threat, lawmakers said Wednesday.

The 2010 reform law requires heightened regulation and resolution planning for firms capable of damaging the economy if they failed. Banks with at least $50 billion in assets — as well as nonbanks with a special "systemically important" designation — must face new Federal Reserve Board supervision and draft so-called living wills.

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.