Investing
U.S. Senator Warren calls for investigation into SVB and Signature Bank failures – WSJ
© Reuters. FILE PHOTO: U.S. Senator Elizabeth Warren (D-MA) gestures as Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in
(Reuters) – U.S. Senator Elizabeth Warren, who is pushing tighter banking regulation, has called for an investigation into the failures of Silicon Valley Bank and Signature Bank (NASDAQ:), the Wall Street Journal reported on Sunday.
Warren sent a letter to the inspectors general of the Treasury Department, the Federal Deposit Insurance Corp and the Federal Reserve on Sunday, urging regulators to examine the management and oversight of the banks ahead of their collapses this month.
She said preliminary results from the investigation should be provided within 30 days, the newspaper reported.
“The bank’s executives, who took unnecessary risks or failed to hedge against entirely foreseeable threats, must be held accountable for these failures. But this mismanagement was allowed to occur because of a series of failures by lawmakers and regulators,” the report quoted Warren as writing.
Read the full article here
-
Side Hustles5 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Side Hustles7 days ago
Protect Your Business With AdGuard VPN’s Powerful Security Features
-
Passive Income7 days ago
This Minimalist Lamp Lets You Pick From 16 Million+ Lighting Colors for Maximum Productivity
-
Make Money6 days ago
15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles6 days ago
How to Maximize Your Profits With This Annual 8-Step Checklist
-
Passive Income6 days ago
Why Email Marketing Is Still Your Business’s Most Powerful Tool
-
Side Hustles6 days ago
Want to Start a Business? Consider Buying One Instead — Here’s Why.
-
Investing6 days ago
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com