Claire Williams

House Republicans will likely need to gain support from Democrats to get the debt limit deal through a critical vote in the House Wednesday evening.

House Financial Services Committee ranking member Maxine Waters, D-Calif., attempted to find bipartisan support from Rep. Andy Barr, R-Ky., for a number of amendments to bills meant to rein in regulators. What she got instead was a commitment to work on some measures in the future.

Banking regulators and executives from the three regional banks that failed this spring testified in a marathon of hearings this week. These are the four threads to emerge from those hearings that banks need to watch.

Sen. Elizabeth Warren, D-Mass., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg that large banks are "seeking to pay back the gap in the deposit insurance fund with devalued assets."

Rep. Maxine Waters, D-Calif., posted the Democratic version of a stablecoin bill that has some differences with the Republican version led by Rep. Patrick McHenry, R-N.C. But those differences aren't insurmountable.

Sens. Jon Tester, D-Mont., and Thom Tillis, R-N.C., suggested that the reports released by the Federal Reserve and the Federal Deposit Insurance Corp. didn't tell the whole story of the banking crisis.

Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.

Democratic and Republican lawmakers alike pilloried former Silicon Valley Bank CEO Greg Becker over his compensation package.

House Financial Services Committee's Oversight and Investigations Subcommittee Republicans tried to pin down the Government Accountability Office on Federal Reserve criticisms, while Democrats stressed debt ceiling worries.

The House Financial Services Committee's Subcommittee on Financial Institutions and Monetary Policy released a number of discussion drafts that would increase transparency requirements at the Federal Deposit Insurance Corp. and the Federal Reserve.

Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.

The Federal Reserve's survey of financial market participants also found worries about monetary policy tightening and the ongoing impacts of persistent inflation.

Rock-bottom stock prices at midsize banks are fueling concerns that depositors could get spooked, and short sellers are drawing much of the blame. But their persistence may be exposing a broader lack of confidence in the industry.

Former First Republic CEO Mike Roffler told regulators earlier this year that the bank could fail according to its resolution plan, but the institution still needed extra help to stay afloat long enough to organize a sale without further harming the financial system.

Sens. Elizabeth Warren, D-Mass., and John Kennedy, R-La., will examine the role of the Federal Reserve in bank failures in a hearing scheduled for May 10.

The Federal Deposit Insurance Corp. suggested targeted deposit insurance expansion for some accounts in a report issued Monday, but the layout in Congress looks tricky to pass any permanent changes.

President Joe Biden said on Monday that he's called on Congress "to give regulators the tools to hold banking executives accountable."

First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.

The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.

In a highly anticipated report on the failure of Silicon Valley Bank, Federal Reserve Vice Chair for Supervision Michael Barr says the bank's own mismanagement and an acquiescent supervisory structure created the conditions for the bank to fail.