After The Bank Failures: What To Watch In Congress

By: Gordon M. Bava
– Law360

Manatt Corporate and Finance Partner Gordon Bava wrote an article in Law360 on the preliminary congressional and regulatory responses and proposed remedies to the bank failures that recently rocked the finance world. In the first of a two-part series examining how regulatory and government agencies are responding, Bava explains three new bills – the Secure Viable Banking Act, Failed Bank Executives Clawback Act and the “IG” Act – and possible updates to the Section 13(3) of the Federal Reserve Act, as well as an FDIC-proposed increase to the $250,000 limit on deposit insurance.  

Bava added agencies will likely increase scrutiny on banks within their authority, saying, “These failures caused the effectiveness of our bank regulatory agencies to be questioned and criticized, and shook the public's confidence in our banking system, which has yet to be fully restored.” 

Read the full Law360 article here.  



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