Sen. J.D. Vance — the Trump-backing former venture capitalist — is trying to lead Republicans in a new cause: cracking down on big banks. Following a Senate campaign in which he pledged to prioritize rural America over titans of industry, the Ohio lawmaker is using a ...Read More

Sam Altman, the CEO of OpenAI, the company behind ChatGPT, testified before a US Senate committee on Tuesday about the possibilities – and pitfalls – of the new technology. In a matter of months, several AI models have entered the market. Mr Altman said ...Read More

After Silicon Valley Bank and Signature Bank went bust in March, liberals and conservatives argued over the cause. Liberals blamed a 2018 law that weakened oversight of midsize banks under the 2010 Dodd-Frank financial reform law, and also an ill-considered 2019 regulation by the Federal Reserve Board that weakened oversight still ...Read More

President Biden on Thursday called on federal regulators to consider imposing stronger safeguards on the banking industry in the wake of the failure of Silicon Valley Bank, in part by reversing Trump-era rollbacks. Biden urged federal banking agencies, in consultation with the Treasury Department, to consider a ...Read More

Sen. Elizabeth Warren, D-Mass., slammed Federal Reserve Chair Jerome Powell in an interview Sunday on NBC News’ “Meet the Press,” saying he “has failed” and shouldn’t be in his role. “He has had two jobs. One is to deal with monetary policy. One is ...Read More

Before Silicon Valley Bank went down, it was the 16th-biggest US bank and had more than $200 billion in assets. Yet it didn’t have the same level of regulatory scrutiny as JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), or Wells Fargo (WFC). Why? ...Read More

Crypto shops weary from last year’s sequence of unfortunate events likely have strenuous regulatory calisthenics waiting for them, and executives see compliance costs rising across the board. Why it matters: Regulators’ hawkish stance on the industry signals a coming torrent of enforcement action — one that ...Read More