“Federal regulators are facing opposition from business groups as they try to develop a system to ensure that large institutions do not cause another financial crisis.”

“At issue is how regulators will determine what financial firms deserve the title ‘systemically significant.’ Lawmakers developed the designation after the financial crisis, when a chain reaction among financial firms nearly sparked a global panic.”

…

“‘This is the section of the Dodd-Frank Act that gives federal regulators the authority to handle the problems in the shadow banking system, and they’re really not living up to that,’ said Marc Jarsulic, chief economist for Better Markets, a nonprofit group pushing for tougher regulation.”

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Read the full Hill article here.