Financial Titans Ready Fight Over ‘Too-Big-to-Fail’ Threat (2)

US officials led by Treasury Secretary Janet Yellen are seeking by year’s end to make it easier to stick firms other than banks with the systemically important label, according to people familiar with the matter.

Top American regulators are holding a closed-door meeting Friday to discuss the changes. The prospect of a reduced timeline — and greater discretion to make determinations — means that more companies could eventually wind up with the tag.

Financial titans are preparing for battle. The too-big-to-fail tag spells greater oversight and fresh compliance headaches, and long-simmering concerns about the threat are boiling over in Washington. ...