US Lawmakers Criticize Regulators Over Silicon Valley Bank Failure and Bailouts.
TL;DR Summary
Lawmakers criticized banking regulators at a Senate Banking Committee hearing for failing to act on signs that Silicon Valley Bank (SVB) was in trouble, mobilizing instead to bail out depositors after it had collapsed. The CEO of the failed SVB, Greg Becker, who was also a board member of the San Francisco Federal Reserve, did not appear before the committee. The legislative response to the latest bank collapses is still evolving, but Democrats led by Sen. Elizabeth Warren have been arguing for the restitution of the Dodd-Frank Act.
Topics:business#bank-collapse#banking-regulations#fdic#finance#senate-banking-committee#silicon-valley-bank
- Lawmakers slam regulators following Silicon Valley Bank failure The Hill
- Senate Holds Hearing on US Bank Failures Bloomberg Television
- SVB customers tried to withdraw nearly all the bank’s deposits over two days, Fed's Barr testifies CNBC
- Lawmakers press US bank regulators on implicit risks of ‘bailouts’ Yahoo Finance
- Fmr. Deputy Treasury Secretary Sarah Bloom Raskin on the SVB and Signature Bank hearings CNBC Television
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