Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer don’t agree on much, but neither party leader in the US Congress is in a rush to push legislation addressing the failures of Silicon Valley Bank and Signature Bank.
Political divisions among Democrats and Republicans’ hardening stance against a legislative response diminish the chances that Congress will heed mid-size banks’ calls to increase the Federal Deposit Insurance Corp. cap or toughen supervision. In the coming weeks, the House and Senate will instead focus on hearings exploring the root causes of the collapses.
Chuck Schumer and Kevin McCarthy
Source: Bloomberg
McCarthy and other Republicans blame regulators — ...
