Congress should not consolidate the federal banking and thrift agencies until it has a clearer picture of what the financial services industry will look like, top regulators told the House Banking Committee on Tuesday.

"We should evaluate the benefits and costs of major changes in our regulatory structure only after congressional deliberations on reform of the laws governing the banking and thrift industries," said Ricki Helfer, chairman of the Federal Deposit Insurance Corp.

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.