March 19 (Reuters) - U.S. Senator Elizabeth Warren, who
is pushing tighter banking regulation, has called for an
investigation into the failures of Silicon Valley Bank and Signature Bank , the Wall Street Journal reported on
Sunday.
Warren sent a letter to the inspectors general of the
Treasury Department, the Federal Deposit Insurance Corp and the
Federal Reserve on Sunday, urging regulators to examine the
management and oversight of the banks ahead of their collapses
this month.
She said preliminary results from the investigation should
be provided within 30 days, the newspaper reported.
"The bank's executives, who took unnecessary risks or failed
to hedge against entirely foreseeable threats, must be held
accountable for these failures. But this mismanagement was
allowed to occur because of a series of failures by lawmakers
and regulators,” the report quoted Warren as writing.
(Reporting by Rishabh Jaiswal in Bengaluru
Editing by Frances Kerry)
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