March 13 (UPI) — President Joe Biden will deliver remarks about the banking industry on Monday morning after federal officials closed two banks, one tied closely to tech startups, over the past three days.
Biden is set to speak on how his administration “will maintain a resilient banking system to protect our historic economic recovery,” he said in a statement on Sunday.
“I am firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again,” Biden said.
Biden is expected to speak at about 9 a.m., EDT.
Regulators shut down New York’s Signature Bank on Sunday on the heels of closing Silicon Valley Bank on Friday.
Silicon Valley Bank, a tech startup lender, became the first major bank to fail in more than two years.
A statement over the weekend by the Treasury Department, …