Joe Biden seeks to make it easier to punish executives of failed US banks

Joe Biden is calling on Congress to make it easier for regulators to punish executives at failed banks, including by recouping gains from share sales and banning disgraced bosses from working in the industry.

The US president said he was “firmly committed to accountability for those responsible for this mess”, in a statement released on Friday, just one week after the collapse of Silicon Valley Bank, a California-based lender.