Two presidents of regional Federal Reserve banks warned Wednesday that the 2010 financial regulation overhaul known as Dodd-Frank does not solve the problem of too-big-to-fail banks and will not prevent taxpayer bailouts of banks in the future.

Richard Fisher, the president of the Dallas Fed, said the law’s “stated promise to end too big to fail rings hollow,” and that one of the law’s provisions for winding down insolvent banks would result in a “’Rob Peter to pay Paul’ chain of events, with the taxpayers playing the role of Peter.”