Lew willing to accept more financial regulation

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Lew added, "If the tools that we have don’t do the trick, then we’ll have to ask the question what else do we need? But I’m going to do everything in my power as Secretary of the Treasury and as Chairman of the Financial Stability Oversight Council to make sure regulators take the action that they’ve been charged to take. And then that we step back and evaluate where we are."

He also noted that previous financial regulations were "half a century or more old," and that the financial crisis emerged from an industry that was poorly regulated and not well understood.

Lew's comments came during an interview that also touched on immigration reform, revelations that the Internal Revenue Service had singled out conservative groups for extra scrutiny and the broader economic recovery.

Some legislators worry that more needs to be done.

Sens. Sherrod BrownSherrod Campbell BrownThe Hill's Morning Report - A raucous debate on race ends with Trump admonishment On The Money: Senators unload on Facebook cryptocurrency | Tech giants on defensive at antitrust hearing | Democrats ask Labor Department to investigate Amazon warehouses Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei MORE (D-Ohio) and David VitterDavid Bruce VitterLobbying World Senate confirms Trump judge who faced scrutiny over abortion views Collins votes against Trump judicial pick MORE (R-La.) introduced legislation in April to tighten controls on big banks. The bill would increase the amount of money most banks need to hold in reserve, limit financial institutions' ability to transfer money between affiliates and reduce burdens for small institutions.