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    Lawmakers are split on how to respond to the recent bank failures

    Days after the failure of two regional banks shook the financial industry, lawmakers say they want answers but disagree on what role Congress should play right now.
    by Rachel Treisman Mar 16, 2023 4 minutes
    Sen. Tim Kaine, a Democrat from Virginia, speaks during a news conference following the weekly Democratic caucus luncheon at the Capitol on Wednesday. Kaine said the vice chair of the Federal Reserve is leading an analysis of what happened with SVB and Signature Bank, which he expected to be finished by May 1.

    Days after the failure of two regional banks shook the financial industry, senators on Capitol Hill say they want answers but disagree on what action to take and how quickly to act.

    Many Americans are worried about potential ripple effects from the collapse of Silicon Valley Bank in California and New York's Signature Bank on the banking industry, technology and their own wallets.

    Biden administration officials are now urging calm and looking to figure out what went wrong.

    Facing criticism, Federal Reserve Chair Jerome Powell that the body's vice chair will conduct a review of its supervision and regulation of Silicon Valley Bank, to be released by

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