The House Financial Services Committee squared off Wednesday over concerns with "too big to fail" and how the 2010 Dodd-Frank Act could possibly be improved to prevent any future bank bailouts.

Lawmakers discussed how regulators would wind down large, failing financial institutions under Dodd-Frank, leaving some curious as to how the law could fall short and what solutions were offered to improve the system.

"Two of the panelists, Sheila Bair, former chairman of the Federal Deposit Insurance Corporation, and Thomas Hoenig, vice chairman at the FDIC, argued that Dodd-Frank at least has the 'tools' to end 'too big to fail,' while the others, Richard Fisher, president and chief executive of the Federal Reserve Bank of Dallas, and Jeffrey Lacker, president and CEO of the Federal Reserve Bank of Richmond, said it doesn't solve the problem," writes American Banker's Victoria Finkle.

For the full piece see "Fed, FDIC Regulators Square Off Over End to 'Too Big to Fail'" (may require subscription).