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Biden urges US regulators to restore strict rules on midsize banks


AFP | | Posted by Shobhit Gupta

President Joe Biden called on US banking regulators on Thursday to reinstate tougher rules on midsized banks, asserting that the measures would prevent future failures like that of Silicon Valley Bank.

US President Joe Biden.(AP)
US President Joe Biden.(AP)

Pointing a finger at predecessor Donald Trump, who eased rules for banks between $100 and $250 billion in assets, Biden urged regulators at the Federal Reserve and Federal Deposit Insurance Corporation to reinstate rules in a step that would not require congressional support.



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