And that created “a more acute pain point” for this particular bank run, House Financial Services Chair Patrick McHenry (R-N.C.) told your MM host. It’s even harder when access to immediate information and financial services are available on the same pocket-sized screen. Ron DeSantis, are staking claims that SVB’s woes were a simple case of so-called woke bank management run amok.īut it’s hard to craft public policy for an emergency brake to halt a fast-moving bank run on uninsured deposits. Jon Tester (D-Mt.) – the architect of that Dodd-Frank overhaul - wants regulators to claw back bonuses that SVB’s leadership collected before their bank went into a tailspin. Katie Porter (D-Calif.) pitched a bill to roll back bipartisan changes to Dodd-Frank that was a major pain point for Democrats in 2018. Elizabeth Warren (D-Mass) and her protégé Rep. ĭays after Silicon Valley Bank went bust, lawmakers are starting to roll out ideas on how to discourage similar weekend-wrecking calamities.
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