“We need to get a full explanation of what happened and why those responsible can be held accountable,” Biden said. “No one in my administration – no one is above the law. And finally, we need to reduce the risk of it happening again. During the Obama-Biden administration, we put tough requirements on banks like Silicon Valley Bank and Signature Bank, including the Dodd-Frank Act, to make sure the crisis we saw in 2008 doesn’t happen again.
President Biden Calls for Tighter Banking Regulations in Wake of SVB, Bank Signature Collapses
