Regulation

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 Fed's report on the failure of Silicon Valley Bank describes a "shift" in supervisory culture that began five years ago. Some say the issue is much older than that.

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.

The Federal Reserve chair said he holds himself accountable for ensuring proper regulatory and supervisory changes are enacted in response to recent bank failures.

After years of implementing Dodd-Frank Act measures rules to streamline bank resolutions, regulators relied on their pre-crisis playbook to resolve Silicon Valley and First Republic banks. That choice has led some experts to question the rules' utility.

The United States needs to follow the lead of other countries by letting fintech firms test innovative products at the national level. Failure to do so could send promising new ideas overseas.

The resolutions of Silicon Valley Bank, Signature Bank and now First Republic are likely to drain $35 billion from the Deposit Insurance Fund. Odds are increasing that banks — even small ones — will pay higher premiums and perhaps a special assessment to replenish the fund.