October 12, 2012 / 6:11 PM / 5 years ago

Financial reforms not enough to ensure stability: Fed's Lacker

CHARLOTTESVILLE, Virginia (Reuters) - Large banks must be allowed to fail without government help, but recent financial reforms are not enough to ensure that will happen, a top Federal Reserve official said on Friday.

"I do not think that Dodd-Frank has provided us with a stable and sustainable framework for regulating the financial sector," Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, told reporters.

Reporting by Pedro Nicolaci da Costa

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