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Virginia senator defends rollback of U.S. banking rules, blames managers for bank failures
WASHINGTON — The recent bank failures that shocked the markets and caused a speedy government bailout were “basic prudential regulation failure” by management, U.S. Sen. Mark Warner of Virginia said Monday. The Democratic senator, who sits on the Senate Committee on Banking, Housing and Urban Affairs, told reporters he stands by his position that 2018 […]
Biden says U.S. bank deposits are safe despite tumult over California bank collapse
WASHINGTON — President Joe Biden reassured Americans early Monday that their money is safe in U.S. banks after a tumultuous weekend following the collapse of Silicon Valley Bank and a move by regulators to shut down a second lender. Americans “should feel confident that their deposits will be there, if and when they need them,” […]
Biden in State of the Union address draws boos and shouts from a combative GOP
WASHINGTON — President Joe Biden began his State of the Union address Tuesday — his first to a divided Congress — with an appeal to bipartisan priorities, but later criticized parts of the GOP agenda and got a sense of Republicans’ appetite for conflict during one combative stretch. Biden opened the 72-minute speech with an […]
U.S. House GOP backs rules plan without disclosing deals made with hard-right members
WASHINGTON — The U.S. House adopted rules for the 118th Congress on Monday, though several of the concessions Speaker Kevin McCarthy made with more conservative members of the Republican Party to secure the gavel weren’t included in the document or publicly circulated ahead of the vote. The 55-page rules package the House voted nearly party-line […]
U.S. House stuck for a third day as Republicans struggle to unite around a speaker
WASHINGTON — The U.S. House slogged through more votes for speaker Thursday, with Republicans unable to reach consensus about whether Kevin McCarthy should lead them during the 118th Congress, or if another lawmaker should win the gavel. Twenty-one Republicans, including Bob Good of Virginia, voted against McCarthy during the third day, signaling that ongoing closed-door […]
U.S. House paralyzed following second day of GOP failure to elect a speaker
WASHINGTON — U.S. House Republicans’ stalemate over who should lead the chamber for the next two years dragged on Wednesday, with Kevin McCarthy failing to get the votes needed to become speaker on three more ballots. The chamber then adjourned until 8 p.m. Eastern to give the House GOP a chance to meet privately, though […]
Conservatives in U.S. House tank McCarthy bid to be speaker on multiple ballots
WASHINGTON — Republican control of the U.S. House got off to a rocky start Tuesday when the party was unable to decide who should become speaker amid a sharp disagreement within the party’s more conservative faction. California Rep. Kevin McCarthy didn’t clinch the backing of the 218 lawmakers he needed to become the head of the […]