Senate Hearings Expose Banking Industry Accountability and Regulation Issues
Senator Elizabeth Warren is calling for an insider-trading investigation into former Silicon Valley Bank CEO Greg Becker following a Senate Banking Committee hearing. Becker was asked by several senators if he was aware Silicon Valley Bank was in trouble when he sold stock in the weeks before the collapse. Warren and a bipartisan cadre of senators have introduced a bill that would require federal regulators to claw back all or part of the compensation received by bank executives if a bank fails in the five-year period preceding the failure. Warren also calls for increased bank oversight and regulation and for Congress to unwind a Trump-era 2018 law that loosened capital requirements for banks in size of $100 billion to $250 billion.