Biden urges Congress to hold failed bank executives accountable.

President Biden has called on Congress to impose tougher penalties on executives who oversee failed banks. The move comes after Silicon Valley Bank and Signature Bank were both taken over by the FDIC in the last week, events that threatened to grow into a larger-scale banking crisis. Biden said that when banks fail due to mismanagement and excessive risk-taking, it should be easier for regulators to claw back compensation from executives, impose civil penalties, and ban executives from working in the banking industry again.