Yellen seeking more regulation in aftermath of bank collapse

By FATIMA HUSSEIN and JOSH BOAK
Associated Press

WASHINGTON (AP) — Weeks after the failure of two banks, Treasury Secretary Janet Yellen is planning to call Thursday for tighter financial regulations. The public push is part of a larger effort by the Biden administration to safeguard the U.S. economy and ensure that individual bank failures can be contained without triggering a chain reaction across the wider financial system. Yellen plans to note that regulations have been weakened in recent years as the shocks of the 2008 financial crisis wore off. In a speech prepared for delivery later Thursday at an economic conference, Yellen says that “the failures of two regional banks this month demonstrate that our business is unfinished.”