"Warren calls for Powell's recusal in SVB review amid calls for regulatory reform"
TL;DR
Senator Elizabeth Warren has called on Federal Reserve Chair Jerome Powell to recuse himself from the review of the Silicon Valley Bank collapse, citing his role in the deregulation of banks. She has also proposed a bill to repeal a Trump-era law that rolled back bank reforms. The plunge in bank shares comes just days after California-based Silicon Valley Bank became insolvent and was bailed out by federal regulators via an auction and insured deposits up to $250,000, marking the second-largest U.S. bank failure since 2008.
Topics:businessfinance#bank-failure#bank-regulations#elizabeth-warren#federal-reserve#finance#silicon-valley-bank
- Elizabeth Warren urges Fed’s Powell to ‘step back,’ recuse himself from SVB review Fox Business
- 'Repeal the law' that led to Silicon Valley Bank crisis, critics say USA TODAY
- Silicon Valley Bank collapse would have been 'prevented' if not for Trump deregulation, Senate Democrat says Fox Business
- The Fed's Easy Regulatory Fix to Avert Another SVB Bloomberg
- PAUL J DAVIES: Fed does not need new rules to stop the next SVB BusinessLIVE
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