Despite firm objections from structured finance advocates, some institutional investors welcome the additional protection, citing Wall Street's potential conflicts of interest.

But attorneys for the small Chicago-based mortgage company remained defiant and actually welcomed the Bureau's move.

Executive compensation legislation could be one of the few areas of bipartisan agreement in Congress in the wake of the Silicon Valley Bank and Signature Bank failures.

As FDIC seeks a buyer for the remaining assets left after its sale of most of Signature Bank to Flagstar Bank, the agency has announced $60 billion in deposits — including some New York City commercial real-estate loans — will be on the market by this summer.

The Consumer Financial Protection Bureau issued a broad policy statement on what constitutes an "abusive" act or practice. Industry has long sought to narrow the definition.

More congressional scrutiny is being directed at the San Francisco Federal Reserve bank and its role in supervising Silicon Valley Bank.

The Federal Deposit Insurance Corp. told First Citizens BancShares it was claiming a $500 million profit linked to rights it had received in the company's stock, which soared after the acquisition of the failed Silicon Valley Bank was sealed.

The rules President Joe Biden calls for include minimizing the financial burden that replenishing the Deposit Insurance Fund would impose on community banks.

Jelena McWilliams, who chaired the agency during the Trump administration, said removing the cap on insured deposits would impact the banking sector in three key ways.

The use of the Federal Reserve's emergency lending facilities was largely unchanged this week, indicating to some that the recent liquidity crisis isn't getting any worse.