House committee to hold hearing on recent bank failures and potential impact on lending standards.
TL;DR Summary
The House Financial Services Committee has scheduled its first hearing on the failures of Silicon Valley Bank and Signature Bank, with FDIC Chairman Martin J. Gruenberg and Federal Reserve Vice Chair Michael S. Barr set to testify. The hearing follows President Joe Biden's request to Congress to allow financial regulators more authority to claw back compensation from executives at failed banks. The Federal Deposit Insurance Corporation seized SVB's deposits on March 10, hours after the bank's executives received bonuses.
Topics:business#fdic#federal-reserve#finance#house-financial-services-committee#signature-bank#silicon-valley-bank
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