Banking
White House calls on financial regulators to bring back safeguards for regional banks
WASHINGTON — The Biden administration, placing blame on Trump-era rollbacks, Thursday called on federal banking regulators to reinstate safeguards for regional banks after the record-setting collapse of Silicon Valley Bank and Signature Bank of New York earlier this month. The White House wants the agencies to revive regular stress testing at banks in the $100- […]
Members of U.S. Senate panel press financial regulators on massive bank failures
WASHINGTON — Financial regulators promised a full review of Silicon Valley Bank’s massive failure as members of a key U.S. Senate panel on Tuesday interrogated the officials about what led to the second-largest bank collapse in U.S. history. Members of the Senate Committee on Banking, Housing and Urban Affairs asked if the Federal Reserve could […]
Virginia senator defends rollback of U.S. banking rules, blames managers for bank failures
WASHINGTON — The recent bank failures that shocked the markets and caused a speedy government bailout were “basic prudential regulation failure” by management, U.S. Sen. Mark Warner of Virginia said Monday. The Democratic senator, who sits on the Senate Committee on Banking, Housing and Urban Affairs, told reporters he stands by his position that 2018 […]
Silicon Valley Bank’s collapse differs from our last financial crisis
After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on by failed […]
Biden says U.S. bank deposits are safe despite tumult over California bank collapse
WASHINGTON — President Joe Biden reassured Americans early Monday that their money is safe in U.S. banks, after a tumultuous weekend following the collapse of Silicon Valley Bank and a move by regulators to shut down a second lender. Americans “should feel confident that their deposits will be there, if and when they need them,” […]
Attempt to help states ease banking for marijuana businesses stumbles in Congress
The annual Defense Department policy bill members of Congress released late Tuesday did not include measures to loosen federal marijuana restrictions, to the disappointment of advocates. That leaves few avenues to pass marijuana measures seen as boons to states where the drug is legal before Congress adjourns for the year. As one of the last […]