Former Rep. Barney Frank (D-Mass.) said on Sunday that his namesake banking regulation bill Dodd-Frank should have been more lenient towards smaller banks.

In a radio interview with John Catsimatidis, Frank said that the asset threshold for “extra supervision” of banks should have been set higher.  

“We put in there that banks got the extra supervision if they were $50 billion in assets,” he said. “That was a mistake. We should have made it much higher, $125 billion or more, and we should have indexed it.”

But Frank maintained that the bill had helped eliminate some of the more risky behavior involving larger banks and included provisions that went to great lengths to help consumers.

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