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Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

Senate Banking Committee chairman Sherrod Brown claimed on Tuesday that Signature Bank “found itself in the middle of Sam Bankman-Fried’s crime spree at the crypto exchange FTX.” 

The chairman of the Senate Banking Committee revealed that he is preparing legislation that will enhance regulators’ capacity to enforce fines and penalties, reclaim bonuses, and prohibit executives who are responsible for bank failures from ever working at another bank again.

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