Published 1 year ago

Sen. Katie Britt grills federal regulators on recent bank failures

Summary by Ground News

Sen. Katie Britt, the freshman from Alabama, pressed that regulators knew what was going on and should have acted. Britt also criticized the Federal Reserve for asking for more powers, despite the uncertainty that it fully utilized the powers it is already provided. The failure of SVB and Signature Bank days later brought a financial crisis as confidence in the bank system plummeted.

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Alabama Political Reporter

Sen. Katie Britt grills federal regulators on recent bank failures

A Senate panel grilled federal regulators on Tuesday about whether they should have done more to prevent Silicon Valley Bank from collapsing. Sen. Katie Britt, the freshman from Alabama, took part in the Senate Committee on Banking, Housing, and Urban Development hearing, pressing that regulators knew what was going on and should have acted. “Six months prior (to the bank failure), JP Morgan noticed that there was a problem,” Britt told Martin G…

1 year ago

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