US Senators and Warren demand accountability and action from big banks after recent failures.
TL;DR Summary
Senators Cory Booker and Raphael Warnock have written to the CEOs of 10 major banks, including Wells Fargo, JPMorgan Chase, and Bank of America, urging them to waive overdraft and nonsufficient fund fees that could cost some Americans more than $100 a day in the wake of the failures of Silicon Valley Bank and Signature Bank. The senators asked banks to help customers whose payments were delayed or missing due to the collapse of SVB and Signature earlier this month.
- Sens. Booker, Warnock press big bank CEOs to pause overdraft fees after SVB failure CNBC
- After bank failures, Elizabeth Warren demands Fed crackdown on large regional banks CNN
- Elizabeth Warren Is Right: Jerome Powell Should Be Held to Account The Nation
- Lobbyists pushed changes blamed for contributing to collapse of Silicon Valley Bank and Signature Bank The Associated Press
- Congress Is Slow-Walking a Change for US Banks Despite Failures Bloomberg
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