House Democrats from the states most affected by the bank collapses, in interviews with Axios, floated large-scale financial reforms and hearings.
The second and third largest bank collapses in U.S. history — coming in rapid succession — are prompting a reckoning within Congress about the state of the U.S. financial system.The vast majority of members of Congress came into office after the 2008 financial crisis. For them, this is relatively uncharted territory.
"I really don't see an avenue where there is not some sort of central legislation to deal with the after-impacts of this, even if it's just to really cement what happened this weekend," he added.
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