Barney Frank defends decision to join failed Signature Bank board for financial gain.

Former US Representative Barney Frank, who co-sponsored landmark reforms to banking regulation after the 2008 financial crisis, has defended taking a board seat at recently failed Signature Bank, saying he needed to make money. Frank made about $2 million in cash and stock sales from his work at Signature over the years. He joined the Signature board in 2015 and argued in favor of relaxing the banking regulations that were part of his landmark Dodd-Frank law. Signature Bank collapsed on Sunday, making it the third-largest banking failure in US history.