Press Releases

Today, Congressman Bill Huizenga (R-MI), Chairman of the House Financial Services Oversight and Investigations Subcommittee, questioned regulators from the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Treasury Department on the collapse of Silicon Valley Bank and the Biden Administration’s response. A brief summary of Congressman Huizenga’s questioning as well as video of the exchanges are available below.

During his questioning, Rep. Huizenga pressed Michael S. Barr, Vice Chair for Supervision at the Federal Reserve, on releasing the Confidential Supervisory Information including the raw data to the House Financial Services Committee as well as the Government Accountability Office (GAO) for independent review. Mr. Barr agreed.

Huizenga then questioned FDIC Board Chairman Martin J. Gruenberg about Confidential Supervisory Information and Chairman Gruenberg agreed to respond in a timely manner.

Lastly, Huizenga questioned Nellie Lang, the Under Secretary for Domestic Finance at the Treasury Department, on the transparency of the Financial Stability Oversight Council (FSOC), specifically when the FSOC meeting minutes would be released regarding the decision-making process surrounding the collapse of Silicon Valley Bank.