Schumer: We Need Stronger Regulatory Framework

Senate Majority Leader Chuck Schumer (D-NY) has told reporters that, "raising the $250,000 FDIC limit is a serious proposal and should be considered... it will strengthen medium-sized banks.

• Schumer added, "this is not an easy solution [but] we need a much stronger regulatory regime."
• On the debt ceiling, Schumer said: "We need calmness.. they [Republicans] are threatening a global financial crisis over the debt limit at the time of issues with the banks."
• Earlier today, Schumer commented on reports that GOP leadership were prepared to double down on a hardline position on the debt ceiling in light of bank failures: "The House Republican comments at their retreat on debt ceiling, undermining the full faith and credit of the United States is never a good idea. But in the aftermath of a bank collapse, it's is supremely reckless."
• Schumer: "As news of SVB’s collapse remains front of mind that is reckless, and truly clueless. It's both reckless and clueless."