“The House Financial Services Committee will use its oversight authority to get to the bottom of what led to the failure of these banks,” said Rep. Patrick McHenry, head of the committee.
The head of the House Financial Services Committee said Wednesday that his panel “has a very important role to play” discovering what went wrong at Silicon Valley Bank and Signature Bank in the leadup to the failures of those institutions earlier this month.
“The House Financial Services Committee will use its oversight authority to get to the bottom of what led to the failure of these banks,” The North Carolina Republican said. McHenry and the top Democrat on the financial services panel, Rep. Maxine Waters of California, announced a bipartisan hearing next Wednesday, featuring Federal Deposit Insurance Corp. Chair Martin Gruenberg, Federal Reserve Vice Chair of Supervision Michael Barr and Treasury Under Secretary for Domestic Finance Nellie Liang.
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Top Republican says he returned donations from a recent fundraiser at Signature Bank headquartersThe new House Financial Services Committee chairman leading an investigation into two of the largest bank failures in history says his team has returned all donations from a fundraiser with executives in Signature Bank’s boardroom days before its collapse.
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The economy is in a 'textbook' financial crisis: Leon CoopermanBillionaire investor Leon Cooperman says the US is going through a 'textbook' financial crisis and the S&P 500 won't hit a new high for a long time
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Britain's financial industry plans blueprint for post-Brexit 'kickstart'Top officials from Britain's financial sector said on Tuesday they would set out a blueprint later this year to 'kickstart' London's role as a post-Brexit global financial centre by 2030.
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RBC names 5 global financial stocks to buy right now as banks sell offThe shares of one European financial company are expected to rise by more than 100% in the next 12 months, according to RBC.
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ECB's Kazaks: Uncertainty in financial markets is high, but EU banks are well capitalizedEuropean Central Bank (ECB) policymaker Martins Kazaks said on Tuesday, “uncertainty in the financial markets is high, but European banks are well cap
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'A financial banana republic': UBS-Credit Suisse deal puts Switzerland's reputation on the lineThe demise of banking giant Credit Suisse sent shockwaves through financial markets and appears to have dealt a blow to Switzerland's reputation for stability.
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