Senate Banking Committee

A.J. King, the CEO of Three Rivers Bank in Kalispell, Mont., sitting at his office. King says his bank shouldn't have to pay for mismanagement at Silicon Valley Bank and Signature Bank.

Economy

It cost $22 billion to rescue two failed banks. Now the question is who will pay

3:30pm April 13, 2023

by David Gura

Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.

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Federal Reserve Vice Chair for Supervision Michael S. Barr appears before the Senate Banking, Housing and Urban Affairs Committee in Washington, D.C., on March 28, 2023. The collapse of Silicon Valley Bank has sparked scrutiny from lawmakers who want to know what went wrong and whether regulators did enough to oversee the lender.

5 things we learned from the Senate hearing on the Silicon Valley Bank collapse

4:20pm March 28, 2023

by Scott Horsley

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

Federal Reserve Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C., on Tuesday. Powell warned the fight against inflation still has "a long way to go," sending stock markets lower.

Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy

4:06pm March 07, 2023

by Scott Horsley

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

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Jerome Powell, Chairman, Board of Governors of the Federal Reserve System testifies before the Senate Banking, Housing, and Urban Affairs Committee on June 22, 2022 in Washington, DC.

Powell says recession 'a possibility' but not likely

2:23pm June 22, 2022

by Scott Horsley

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

The Senate Banking Committee on Tuesday heard testimony about coronavirus economic relief efforts from Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell.

Senators Clash Over How Soon To Reopen The Economy

3:18pm May 19, 2020

by Scott Horsley

Lawmakers squabbled over how quickly the economy can rebound from the coronavirus shutdown and whether the government is doing enough to support struggling families and businesses.

Wells Fargo CEO To Forfeit Tens Of Millions In Stock Awards Amid Scandal

8:55pm September 27, 2016

by Jim Zarroli

Wells Fargo says John Stumpf and the former retail-banking head will forfeit stock awards worth about $60 million combined, after employees opened unauthorized customer accounts to meet company goals.