WASHINGTON — Comptroller of the Currency Thomas Curry attempted to dispute the notion that large banks are "too big to jail," telling a group of state attorneys general that his agency can take legal action and level "severe penalties" against an institution.

"As important as they are, they should not be considered immune from prosecution when circumstances warrant," Curry said Tuesday before the National Association of Attorneys General. "No institution should be viewed as too big to prosecute."

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.