Sinema defends ties to Wall Street with proposed bill targeting failed bank leaders.
Arizona Senator Kyrsten Sinema, who has been criticized for her ties to Wall Street, has taken credit for helping broker legislation that would target executives of failed banks. Sinema cited the bill approved this week by the Senate Banking, Housing and Urban Affairs Committee as an example of the bipartisan dealmaking she says is often lacking from Congress. The measure responds to the collapse this year of Silicon Valley Bank, the second-largest bank failure in U.S. history, followed by the demise of Signature Bank and First Republic Bank. Sinema said she pushed to include a provision requiring the Federal Reserve to report on efforts to improve bank oversight.