The president is 'rightfully fighting to hold bank executives accountable for their failures,' said Sen. Elizabeth Warren.
expressed outrage over the bonuses that Silicon Valley Bank executives were handing out hours before the bank failed, President Joe Biden on Friday called on Congress to strengthen regulatory powers to hold officials at failed banks accountable.
In addition to giving out bonuses hours before SVB collapsed, Becker sold roughly $3 million worth of shares of the bank in the weeks before the failure.the FDIC can claw back compensation of executives of the nation's largest banks if they fail and can only impose other penalties if executives act with "recklessness" or "willful or continuing disregard."
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