Warren, Brown Say KPMG-Signature Bank Conflicts Deserve Scrutiny

A potential conflict of interest between a failed bank and its auditor has captured the attention of two key Senate Democrats with subpoena power.

Sens. Sherrod Brown and Elizabeth Warren, economic populists who respectively chair the Senate Banking Committee and its subcommittee on economic policy, told Bloomberg Government this week that they will scrutinize the relationship between Signature Bank and KPMG LLP.

“This is one more reason we need an independent investigation into the failure of these banks,” Warren (D-Mass.) said Tuesday in a brief hallway interview. “There were multiple places where actors had incentives to load up on risk, ...