In a June 21 announcement, committee ranking member Maxine Waters (NYSE:WAT) said House Democrats had backed 11 bills drafted in response to the collapse of Silicon Valley Bank, Signature Bank (OTC:SBNY) and First Republic Bank (OTC:FRCB) in the United States. The proposed legislation — which has not yet gone to the committee’s Republican members for approval — includes measures to impose fines and ban bank executives from future work in the industry should they “negligently contribute to their bank’s failure.”
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