Federal Reserve Chief Janet Yellen Says Banks Are Safer Now: Here’s Why
Published: Aug 28, 2017
• Updated: Aug 22, 2024
Yellen: Regulations following the financial crisis have made banks more secure.
The state of the state of banking in America? It’s on safer ground, according to Janet Yellen, the chairwoman of the Federal Reserve (the Fed).
The reasons behind this are complicated, but the short version is that many of the nation’s top banks had gotten involved buying and selling risky mortgage loans. That ballooned into what Yellen called a “tidal wave” of bad debt that plunged the economy into the worst crisis it had seen since the Great Depression, starting around 2008. This most recent crisis was known as The Great Recession.
Written by
Team Stash
We want to turn money into a source of hope and opportunity. We teach people how to build good habits, save more and make it easy and affordable to get started investing. So far, we’ve helped over 6 million people create a more secure financial future with our expert advice and award winning investing app.
By using this website you agree to our Terms of Use and Privacy Policy. To begin investing on Stash, you must be approved from an account verification perspective and open a brokerage account.