The three main U.S. bank regulators this Tuesday faced lawmakers demanding to know how three banks collapsed within days of each other.

The bankruptcy of Silvergate, Silicon Valley and Signature banks led to fears of a new global financial crisis – especially after Swiss bank Credit Suisse had to be bailed out. The circumstances for each were slightly different, but there are similar questions about the management for these banks.

The question is why the U.S. eased stringent regulations imposed by Congress on banks after the 2008 crash.

Owen Fairclough reports.