Holder: Big banks' size complicates prosecution efforts

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He suggested that prior attempts to bring enforcement against banks may have been stifled by their outsize influence, saying it has an "inhibiting influence ... on our ability to bring resolutions that I think would be more appropriate."

The Justice Department is required to consider the economic impact of its actions, but Holder's comments should bolster an increasingly vocal group of lawmakers that argue the nation's biggest banks have gotten too large and need to be curbed.

Sens. Chuck GrassleyCharles (Chuck) Ernest GrassleySenators push mandatory sexual harassment training for members, staff Senate panel to hold hearing on bump stocks, background checks Senate panel to hold hearing on bump stocks MORE (R-Iowa) and Sherrod BrownSherrod Campbell BrownTrump tells Senate Dems that 'rich people get hurt' in GOP tax plan Senate panel approves North Korea banking sanctions Trump names Powell as chairman of Federal Reserve MORE (D-Ohio) pressed Holder on the issue in a letter sent in February, airing their disappointment that no major criminal charges had been filed against banks or their employees in the wake of the financial crisis. And Sen. Elizabeth WarrenElizabeth Ann WarrenBipartisan group of lawmakers aim to reform US sugar program Schumer: Dems want DACA fix in government spending bill The Hill interview — DNC chief: I came here to win elections MORE (D-Mass.) drew headlines when she blasted financial regulators during a separate hearing for failing to bring any major financial institutions to trial since the meltdown.

Grassley pressed Holder again on the issue during testimony Wednesday, at which point Holder said he essentially agreed.

"The concern that you have raised is one that I, frankly, share," he said, adding that ultimately the best deterrent would be if they could bring charges against individuals instead of companies.

However, he also added that all of the bad behavior on Wall Street leading up to the crisis may not necessarily have been criminal and that his criminal team has been "as aggressive as they could be."

Holder touted the Justice Department's efforts on financial fraud, specifically noting the government's civil suit against the credit rating agency Standard & Poor's, in which the government is seeking at least $5 billion in damages. The rater has said the lawsuit is without merit and is challenging it.