Banks and other businesses that want regulatory relief need to be careful what they ask for, Comptroller of the Currency Eugene A. Ludwig said Monday in Los Angeles.

Mr. Ludwig has been an advocate of reducing regulatory burden on the banks his agency oversees. But in a speech to Town Hall of California, a business group, he said the wholesale deregulation favored by some in Congress could be disastrous.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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