Bank failures: Anger in Congress, but division on what to do

Bank failures: Anger in Congress, but division on what to do

WASHINGTON (AP) — Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank. QUICK LEGISLATIVE FIXES UNLIKELY While President … Read more

Yellen declares bank system sound, as new rescues ordered

Yellen declares bank system sound, as new rescues ordered

WASHINGTON (AP) — Treasury Secretary Janet Yellen offered firm, upbeat reassurances to rattled bank depositors and investors Thursday, even as American financial institutions and European agencies ordered fresh rescue efforts following the second-largest bank collapse in U.S. history. Questioned closely, sometimes aggressively, Yellen told senators at a Capitol hearing that the U.S. banking system “remains … Read more