Executives from two large U.S. banks that failed dramatically in March appeared in front of the Senate Banking Committee on Tuesday.
Author: Ken Sweet
Executives from failed banks questioned on CEO pay, risk management at Senate hearing
Executives from two of three banks that recently failed appeared in front of the Senate Banking Committee on Tuesday to respond to questions about why their banks went under and what regulators could have done to avoid the calamities.
First Republic Bank seized by feds, sold to JPMorgan Chase
First Republic has become the second-largest bank failure in U.S. history.
First Republic clients pulled $100 billion in deposits during panic
First Republic said Monday that it was only able to stanch the bleeding after a group of large banks stepped in to save it by depositing $30 billion in uninsured deposits.
Despite high-profile failures, big banks post strong profits
The nation’s largest banks appear to be weathering the current turmoil in their industry just fine.
Sam Bankman-Fried, founder of collapsed crypto exchange FTX, charged by US in ‘scheme’ to defraud
U.S. prosecutors charged Sam Bankman-Fried, the former CEO of FTX, with a host of financial crimes on Tuesday.
Visa, Mastercard, AmEx to start categorizing gun shop sales
Payment processor Visa Inc. said Saturday that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting.
GOP paints Biden’s choice for bank regulator as radical
WASHINGTON (AP) – President Joe Biden’s choice to run one of the agencies charged with overseeing the banking industry faced sharp questioning Thursday from Republican senators, who tried to label Saule Omarova as someone who would national…
Biden’s nominee for bank regulator faces hostile opposition
NEW YORK (AP) – A fierce battle is being waged in Washington over President Biden’s choice to lead a typically low-profile agency that oversees the banking industry. Saule Omarova, 55, was nominated in September to be the nation’s next comptrolle…