The secretive world of Federal Reserve bank supervision has been laid bare by the collapse of Silicon Valley Bank and critics say it needs an overhaul to make it more nimble, transparent and decisive.
Liberal Democrats in the U.S. Congress called on President Joe Biden on Thursday to take executive action to crack down on misconduct in the banking, airline and rail transportation industries.
The Biden administration urged banking authorities to tighten regulation of mid-sized banks, which it said could be pushed through without support from a split Congress.