OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Ranking Member Waters Urges Chair McHenry to Immediately Schedule Hearing with CEOs of Recently Failed Banks

Press Release

Date: May 4, 2023
Location: Washington, D.C.
Issues: Finance and Banking

"I write to request that you immediately schedule a Committee hearing and invite the Chief Executive Officers (CEOs) of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank to testify. As you know, SVB failed on March 10th, Signature Bank failed on March 12th, and First Republic Bank failed on May 1st, and these represented the 2nd, 3rd, and 4th largest bank failures in U.S. history, and combined they had more assets than the 25 banks that failed in 2008 at the apex of the global financial crisis,"

"…we should not shirk our duties by allowing other Committees to do our work for us in conducting a comprehensive review of these massive bank failures. To that end, I hope we can continue our bipartisan approach investigating this matter and respectfully request that you promptly invite the three CEOs to appear before the Committee without further delay."


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