Lew says delays on rules may mean big bank risk

Published: .
Updated: .

U.S. Treasury Secretary Jacob Lew says delays in writing rules to put the 2010 financial overhaul law into effect have raised the prospect that big banks could still threaten the financial system's stability.

Lew says that means policymakers may have to consider new approaches. His comments came Wednesday at a conference organized by CNBC.

If rules putting the law in place aren't sufficient by year's end to reduce the risk of big banks failing, Lew says "We're going to have to look at other options." Lew didn't specify what the options might be.

He said the Obama administration, like a group of senators who recently proposed legislation that would break up banks, wants to ensure risky banks can't bring down the system. He didn't specifically endorse the legislation.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)