Banking Crisis
Warren Says She Favors Increasing FDIC’s Deposit Insurance Cap
- Massachusetts Democrat amped up criticism of Jerome Powell
- She says Powell ‘took a flamethrower’ to banking regulations
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Senator Elizabeth Warren is calling for more US deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank.
The comments this weekend from the Massachusetts Democrat, a frequent critic of the finance industry, raise the political pressure in an already tense situation. American officials are racing to calm nerves over the financial health of other US mid-sized banks.