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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…
Democrats are banging a gong about the need for greater regulation of the U.S. financial sector following the combined public and private-sector rescue of California-based First Republic Bank. The San Francisco-based regional powerhouse is the third major U.S. bank to fail and prompt a government-administered bailout of depositors following the collapse of Silicon Valley Bank…
Lawmakers raked banking regulators at the Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation (FDIC) over the coals during a hearing of the Senate Banking Committee on Tuesday after the agencies failed to act on signs that Silicon Valley Bank (SVB) was in trouble, mobilizing instead to bail out depositors after it had collapsed….
Banking executives sold millions in stock before crash: WSJ Executives at First Republic Bank sold company’s stock worth millions of dollars in the months before this week’s crash, according to The Wall Street Journal. The banking executives sold $11.8 million worth of stock in the company over the last two months, with First Republic Executive Chairman…