Few debates rage as fiercely today as how to protect bank customers — and how much protection they need.
A trio of regulators appeared before the Senate Banking Committee on Tuesday (March 28) to discuss what went wrong at Silicon Valley Bank and Signature Bank, why they collapsed — and how much it all will cost.
As we reported, commentary from Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg, U.S. Department of the Treasury Undersecretary for Domestic Finance Nellie Laing, and Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System Michael Barr weighed in on the actions that were taken to backstop uninsured deposits.