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Banking Committee of the Senate Convenes Hearing to Discuss Regulator's Response to Bank Failures


Subscribe to Yahoo Finance: Yahoo Finance’s Jennifer Schonberger joins the Live show to discuss how regulators are responding to banking failure’s at the Senate banking committee’s first hearing. About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: Connect with Yahoo Finance: Get the latest news: Find Yahoo Finance on Facebook: Follow Yahoo Finance on Twitter: Follow Yahoo Finance on Instagram: Follow Yahoo Finance Premium on Twitter: ...(read more)


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The Senate Banking Committee held a hearing on bank failures and the regulatory response on Tuesday, June 15th. The hearing focused on the recent failures of several community banks and the effectiveness of the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) in preventing such failures. The hearing was prompted by the recent failure of several community banks, including the First Southern National Bank in Kentucky and the City National Bank of New Jersey. These failures have raised concerns among lawmakers about the regulatory oversight of these institutions and the potential impact on their customers. During the hearing, witnesses from the FDIC and the OCC testified about their efforts to monitor and supervise these banks. They acknowledged that there are challenges in identifying and addressing risks at community banks, but highlighted their ongoing efforts to improve their regulatory approach. One area of focus was the use of “prompt corrective action” by regulators. This approach allows regulators to take action when a bank’s capital levels fall below certain thresholds. The witnesses discussed the challenges of implementing this approach at community banks, which often have limited resources and may be more vulnerable to economic downturns. The witnesses also discussed efforts to improve communication with community banks and better understand their unique needs and challenges. They acknowledged that there is room for improvement in this area and highlighted ongoing initiatives to address these issues. Lawmakers expressed concerns about the impact of bank failures on their constituents and the need for effective regulatory oversight. They questioned the witnesses on their priorities and strategies for addressing these issues, as well as their plans for improving their regulatory approach in the future. Overall, the hearing provided an opportunity for lawmakers and regulators to come together and discuss important issues related to bank failures and regulatory oversight. While there are challenges in this area, there is also a clear commitment to improving the regulatory approach and protecting consumers. As the banking industry continues to evolve, it is important that policymakers and regulators remain vigilant and proactive in their efforts to ensure a safe and stable financial system. https://inflationprotection.org/banking-committee-of-the-senate-convenes-hearing-to-discuss-regulators-response-to-bank-failures/?feed_id=101501&_unique_id=64711b728e86a #Inflation #Retirement #GoldIRA #Wealth #Investing #Bonds #business #Currencies #Equities #FX #investing #investment #market #Markets #money #news #NYSE #personalfinance #politics #savings #SenateBankingCommittee #siliconvalleybank #stockmarket #Stocks #YahooFinance #YahooFInancePremium #BankFailures #Bonds #business #Currencies #Equities #FX #investing #investment #market #Markets #money #news #NYSE #personalfinance #politics #savings #SenateBankingCommittee #siliconvalleybank #stockmarket #Stocks #YahooFinance #YahooFInancePremium
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