U.S. Senator Warren calls for investigation into SVB and Signature Bank failures – WSJ By Reuters
Breaking News
‘;
Stock Markets 26 minutes ago (Mar 19, 2023 05:35AM ET)
(C) 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:SBNY), 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.
U.S. Senator Warren calls for investigation into SVB and Signature Bank failures – WSJ
Terms And Conditions
Privacy Policy
Risk Warning
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.