Press Releases

Today, Congressman Bill Huizenga (MI-04), Chairman of the Oversight and Investigations Subcommittee for the House Committee on Financial Services, released the following statement on the Federal Reserve's SVB report.

"While this report by the Federal Reserve recognizes the clear failure of bank management to address risks created by rising interest rates, it falls short of fully exploring why the Federal Reserve’s own supervisory actions failed so spectacularly. 

Instead and unsurprisingly, the report dovetails into the Democrats’ long-held push for greater regulation and more power. 

A federal regulator asking for more authority in the wake of a crisis is one of the oldest calls in Washington’s playbook. 

As Oversight and Investigations Chairman, our Subcommittee will continue to conduct a thorough and independent review into the collapse of Silicon Valley Bank as well as the role the Federal Reserve played in it."