Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress.
The recommended changes outlined by the White House try to put a clear blame on the Trump administration for weakening supervision of regional banks, issuing a fact sheet that said Biden’s predecessor “weakened many important common-sense requirements and supervision.”
Source : Biden urges restoration of bank regulations weakened under Trump