Regulators Failed to Do Their Jobs in Preventing Banking Turmoil: Senate Committee

Regulators Failed to Do Their Jobs in Preventing Banking Turmoil: Senate Committee
People line up outside of the shuttered Silicon Valley Bank (SVB) headquarters in Santa Clara, Calif., on March 10, 2023. Justin Sullivan/Getty Images
Andrew Moran
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Federal regulators who fell asleep at the wheel and failed to do their job of preventing distress in the banking system need to be held accountable, lawmakers argued at a Senate hearing.

The Senate Banking, Housing, and Urban Affairs Committee held a hearing last week to hold executives accountable after the three bank failures this year.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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