Top officials and banking regulators are set to appear before the Senate Banking Committee on Tuesday morning to testify about a string of recent banking failures that led to the collapse of Silicon Valley Bank and Signature Bank earlier this month.
The committee will hear from senior officials at the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation as they grill the financial experts on what regulators did (or didn’t do) to prevent the banking failures. The hearing is the first of several as lawmakers seek to determine the cause of the banking failures and consider measures to prevent future shortcomings.
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