Biden urges confidence in banks after collapse, bats for strengthening of rules
US President Joe Biden sought to reassure Americans on Monday following the collapse of two major banks, stating that people can 'have confidence' in US banking.
Following the collapse of two major banks within days of each other, President Joe Biden insisted on Monday that Americans could still 'have confidence' that US banking was safe. The POTUS also said that he was ‘going to ask Congress and regulators to strengthen bank rules’. He reminded that the FDIC had already taken control of SVB and Signature Bank assets.