Senators push for stronger bank executive accountability through clawback legislation.

Senate Democrats, led by Elizabeth Warren, are urging federal banking regulators to implement stronger capital requirements for banks by aligning with the international "Basel III" framework. The lawmakers blamed lobbyists and some Republicans for efforts during the Trump administration to ease capital requirements established after the 2008 financial crisis. They also pointed to the Fed's March 2020 decision to simplify capital rules for large banks as evidence of a drawdown of regulations. The senators are pushing for regulators to fully implement Basel III to safeguard against more bank failures and fend off aggressive lobbying from Wall Street.