In the wake of the failure of several regional banks, lawmakers are furiously at work drafting new bills to give regulatory authorities more control over banks. But some experts say that bank regulators already had all the power they needed, but failed to use it effectively. “Every time we have a crisis on our hands,…

Former Chief Executive Officer of Silicon Valley Bank Greg Becker, co-founder and former Chairman of Signature Bank Scott Shay, and former CEO and President of First Republic Bank Michael Roffler testify in the first panel to the “U.S. House Financial Services Committee Subcommittee on Financial Institutions and Monetary Policy and Subcommittee on Oversight and Investigations” on bank failures at 10:00 a.m. ET on…

Former Chief Executive Officer of Silicon Valley Bank Greg Becker, co-founder and former Chairman of Signature Bank Scott Shay, and former CEO and President of First Republic Bank Michael Roffler testify in the first panel to the “U.S. House Financial Services Committee Subcommittee on Financial Institutions and Monetary Policy and Subcommittee on Oversight and Investigations” on bank failures at 10:00 a.m. ET on…

Since the COVID-19 public health crisis, the Federal Reserve system has undergone a cultural shift in supervision, and this may have been another contributing factor to the turmoil in the banking system, a House committee heard. The House Financial Services Committee hosted a hearing on May 16. It featured testimony from Fed vice chair for…

During a Senate Banking Committee hearing on Tuesday, senators denounced the actions of Silicon Valley Bank (SVB) CEO Greg Becker, who has been accused of distributing bonuses and selling stock in the bank shortly before its collapse. “In 2022, in particular, you [Becker] paid yourself a $1.5 million cash bonus even as the value of…

Former chief executive of Silicon Valley Bank (SVB) Greg Becker issued a public apology before a Senate committee on Tuesday. Becker expressed deep remorse for the devastating impact suffered by SVB’s employees, clients, and shareholders during the recent financial turmoil that led to the bank’s collapse. “I never envisioned myself or SVB being in this…

Silicon Valley Bank former CEO Gregory Becker, Signature Bank former chairman and co-founder Scott Shay, and Signature Bank former president Eric R. Howell testify on “Examining the Failures of Silicon Valley Bank and Signature Bank” at 10 a.m. ET on May 16 to the U.S. Senate Banking Committee. …

Silicon Valley Bank former CEO Gregory Becker, Signature Bank former chairman and co-founder Scott Shay, and Signature Bank former president Eric R. Howell testify on “Examining the Failures of Silicon Valley Bank and Signature Bank” at 10 a.m. ET on May 16 to the U.S. Senate Banking Committee. …

Silicon Valley Bank former CEO Gregory Becker, Signature Bank former chairman and co-founder Scott Shay, and Signature Bank former president Eric R. Howell testify on “Examining the Failures of Silicon Valley Bank and Signature Bank” at 10 a.m. ET on May 16 to the U.S. Senate Banking Committee. …

Big banks in the United States will bear billions of dollars in extra fees to replenish a deposit insurance fund that was used to bail out banks in March, the Federal Deposit Insurance Corporation (FDIC) said on Thursday. The recent collapse of Silicon Valley Bank (SVB) and Signature Bank impacted the deposit insurance fund (DIF)…