Lawmakers and Elizabeth Warren criticize response to bank failures.
TL;DR Summary
Lawmakers are divided on how to respond to the recent bank failures of Silicon Valley Bank and Signature Bank. Some Democrats blame the rollback of banking regulations from the Dodd-Frank Act during the Trump administration, while others say it's not clear that those would have made a difference. The Federal Reserve's vice chair is conducting a review of its supervision and regulation of Silicon Valley Bank, to be released by May 1. Some panicked customers are moving their money from regional banks to larger lenders, which could reshape the banking landscape long-term.
Topics:business#banking-regulations#dodd-frank-act#federal-reserve#finance#signature-bank#silicon-valley-bank
- Silicon Valley Bank: Lawmakers split on bank failure response NPR
- Elizabeth Warren in letter to Signature Bank seeks answers for 'disastrous' collapse Yahoo Finance
- In letter to Fed chair, Elizabeth Warren blasts ‘an astonishing list of failures’ that led to two banks’ collapse The Boston Globe
- Failure of Silicon Valley Bank has Idaho Sen. Mike Crapo’s name written all over it | Opinion Idaho Statesman
- Deregulation, not diversity, drove Silicon Valley Bank’s downfall MSNBC
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