The five biggest banks in the United States are too powerful and should be broken up, Dallas Federal Reserve Bank President Richard Fisher said. The financial crisis has left the nation's biggest banks even more powerful than before, he said at an event in Mexico City.

"The purpose of Dodd-Frank was to reduce the concentration of power and we have a term called 'too big to fail'... perversely, these banks are now even bigger, they are too 'bigger' to fail than before." Read more at CNBC.