President Joe Biden wants leaders of banks that collapse ‘due to mismanagement and excessive risk taking’ to be banned from working in the industry|Gage Skidmore|CC BY-SA
President Joe Biden wants Congress to impose tougher penalties on bank executives of failed banks and tighten regulations to enact “accountability.”
He further wants leaders of banks that collapse “due to mismanagement and excessive risk taking” to face fines and bans from working in the industry.
“I’m firmly committed to accountability for those responsible for this mess,” Biden said on Friday.