US lawmakers propose bills to hold bank execs accountable for failures and address risks By Cointelegraph

Democrats with the United States House Financial Services Committee have introduced several bills in what they described as the “first wave” of legislation aimed at addressing failures at major banks.

In a June 21 announcement, committee ranking member Maxine Waters (NYSE:) said House Democrats had backed 11 bills drafted in response to the collapse of Silicon Valley Bank, Signature Bank (OTC:) and First Republic Bank (OTC:) 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.”