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The former chair of the Federal Deposit Insurance Corporation knocked the agency’s current leadership over allegations of widespread sexual harassment, saying that the issue must be “dealt with swiftly.” Sheila Bair, who led the federal banking regulator from 2006 to 2011, called for “heads to be knocked” over the sweeping allegations of a hostile work…
Both Democratic and Republican lawmakers are calling for an investigation of the Federal Deposit Insurance Corporation (FDIC) following a series of reports by the Wall Street Journal on an alleged culture of sexual harassment, misogyny and general vulgarity toward women. “The reports are extremely concerning,” Senate Banking Committee Chair Sherrod Brown (D-Ohio) said in a…
Beleaguered bank First Republic is now facing buyout bids after the Federal Deposit Insurance Corporation sought to arrange suitors Saturday following a hollowing out of the bank’s share price amid several weeks of market turmoil, multiple outlets reported. First Republic Bank is the latest financial institution to come under stress following the second- and third-largest…
The Hill’s Morning Report — Regulators, no lawmakers, likely to act after SVB failure Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics…
Five things to know about the Silicon Valley Bank takeover The federal government took over Silicon Valley Bank (SVB) over the weekend and announced it would insure 100 percent of deposits in a bank that caters to venture capitalists and high-tech startups. The Treasury Department announced Sunday night that the Federal Deposit Insurance Corporation (FDIC)…
Biden, Democrats applaud ‘decisive action’ to protect Silicon Valley Bank depositors President Biden and Democrat lawmakers praised the “decisive action” by federal financial agencies on Sunday to protect Silicon Valley Bank depositors and shore up the financial system ahead of markets opening on Monday. “The American people and American businesses can have confidence that their…