Lawmakers demand accountability and transparency in response to recent bank failures.
Lawmakers overseeing the recent turmoil in the banking sector have announced back-to-back hearings next week to examine regulatory lapses that missed signs the banks were in trouble. The high-profile hearings come as lawmakers try to understand what caused the two institutions to fold, and as many Democrats float legislation to bolster safeguards for the financial system. Regulators and lawmakers are also trying to contain further damage to the economy and reinforce confidence in the banking system.