Biden urges stricter banking regulations after recent failures.

President Biden has urged banking regulators to take additional steps to reduce the risk of mid-sized bank failures. The White House blames the Trump administration for weakening regulatory requirements for mid-sized and regional banks. The steps include boosting liquidity requirements, increasing capital stress tests, ensuring stress tests begin shortly after banks first reach $100 billion in assets, reinstating requirements for mid-sized banks to have "living wills," and stronger capital requirements for regional banks.