Politics

Sen. Elizabeth Warren, D-Mass., said that former Silicon Valley Bank CEO Greg Becker's assurances to Congress about the bank's safety in 2015 "now look nefarious."

Small and midsize banks flooded the Federal Home Loan Bank System with demands for liquidity to avert potential bank runs and stave off taking unrealized losses on investment portfolios just as the Federal Reserve opened a liquidity facility for just that reason.

The Federal Reserve's top regulator will examine what steps the central bank took to mitigate risks at the bank before its failure last week.

Regulators covered Silicon Valley Bank and Signature Bank customers' money, and will need to replenish the Deposit Insurance Fund with higher assessments. But smaller banks don't want to pay for larger banks' mistakes.

Rep. Brad Sherman, D-Calif., a senior member of the House Financial Services Committee, said he's considering a bill to shore up regulation and oversight of medium-size banks.

President Joe Biden said that deposits at U.S. banks are safe following swift action from his administration's bank regulators.

The Treasury Department issued a "systemic risk exception" allowing it to cover uninsured deposits at SVB and Signature Bank, which New York State closed on Sunday.

The bank's tech-sector focus contributed to its rapid demise. But the reasons for its failure come down to the nuts and bolts of banking, and other banks may have similar vulnerabilities.

A $13.5 billion advance to Silicon Valley Bank months before its collapse is another sign that the Home Loan banks encourage risk-taking that can burden the Federal Deposit Insurance Corp. or even the system itself, critics say.

In Kirschner, v. JPMorgan Chase Bank, N.A — a case that could drastically change banks' role in the syndicated loan market — judges in the Second Circuit wondered how banking regulators view the syndicated loan market.

The voluntary liquidation of one of the most crypto-friendly banks has sent ripples through political and policy circles, but the concrete effects and lessons to be learned may take time to untangle.

In a subcommittee hearing on the CFPB, Rep. Andy Barr, R-Ky., sought to dismiss "sky is falling" concerns about other agencies' funding structures being questioned in wake of potential Supreme Court decision.

In his first dedicated remarks on cryptocurrencies, the Federal Reserve's top regulator said the central bank is well positioned to mitigate risks to the banking system.

The "Taking Account of Bureaucrats' Spending Act" would subject the Consumer Financial Protection Bureau to congressional appropriations and change the name of the bureau to the Consumer Financial Empowerment Agency.

The lawmakers, led by Senate Banking Committee Chairman Sherrod Brown, D-Ohio, said that "banks are delaying the process of resolving their fraud claims by weeks and even months."

During his second day of congressional testimony this week, the Federal Reserve chair faced several questions about the Consumer Financial Protection Bureau's embattled funding mechanism.

A new study finds that in the six months after a rate cap was imposed in Illinois, the number of subprime loans being made declined, and subprime borrowers reported a decline in their financial well-being.

For some political strategists, rising economic populism in the Republican party could mean that more financial services firms could face more political risk.

The Consumer Financial Protection Bureau and National Labor Relations Board are joining forces to crack down on unfair labor practices concerning debt and personal data.

Democratic Sens. Sherrod Brown, Jack Reed and Raphael Warnock on Tuesday joined Robert Menendez and Catherine Cortez Masto in asking the Biden administration to appoint a Latino to the Federal Reserve Board to improve diversity.