Topline
The Biden Administration is pressing Congress to broaden regulators’ authority to penalize executives of failed banks, marking the White House’s latest push to tighten restrictions in the wake of the collapse of three U.S. banks over the past 10 days.
Key Facts
Biden wants Congress to give the Federal Deposit Insurance Corporation the power to bar executives of failed banks from working in the industry if they engage in “willful or continuing disregard for the safety and soundness” of their banks, he said in a statement released Friday.
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