U.S. Secretary of the Treasury testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC.Win Mcnamee | Getty ImagesWASHINGTON — Federal bank regulators are not considering any plans to insure all U.S. bank deposits without congressional approval, Treasury Secretary Janet Yellen told members of a Senate Appropriations subcommittee on Wednesday.Several banking groups and consumer advocates have called for some kind of a universal deposit guarantee after the government refunded most of the uninsured deposits at two banks that collapsed earlier this month, California-based Silicon Valley Bank and New York-based Signature Bank.In response to a direct question about whether Treasury would circumvent Congress to insure all deposits, Yellen replied: “I have not considered or discussed anything having to do with blanket insurance or guarantees of all deposits.”Yellen made the comment to senat …
