Some Republicans in Congress are balking at Democratic President Joe Biden’s announcement that special assessment fees will be levied on banks to cover the cost of the failure of Silicon Valley Bank and Signature Bank. In response, Missouri U-S Senator Josh Hawley is co-sponsoring a bill that would bar banks from passing on the cost of those fees to their customers:


President Biden says, though, that taxpayers will NOT bear the costs. Other Democrats say the president’s plan will help prevent a run on banks in other parts of the country.


(From Missourinet)