Democrats in the Senate Urge Federal Reserve to Tighten Regulations for Big Banks

Twelve Democratic lawmakers led by Sen. Elizabeth Warren (D-Mass.) are escalating criticisms of the U.S. banking sector and calling on the Federal Reserve to implement tighter regulations and oversight for some of the country’s major institutions.

In the wake of Silicon Valley Bank and Signature Bank’s failures, Warren wrote to regulators urging them to add new guidelines and increase mandatory inspection for banks operating with at least $100 billion in assets.

“The fall of both SVB and Signature, the near-crash of First Republic, and the struggles of other regional banks shed new light on the systemic importance of banks with assets totaling between $100 and $250 billion,” Warren and other Democratic senators wrote in a memo, first reported by CNN, and also obtained by The Hill.

Read the source article at thehill.com