McHenry Statement on Regulator Actions Regarding First Republic Bank

Press Release

"Americans should remain confident in the safety of their deposits at U.S. banks. The FDIC used its available tools to resolve First Republic Bank. I appreciate the quick work of regulators to facilitate a sale of the bank's assets, while minimizing risk to taxpayers. The question remains, why didn't the FDIC do the same thing in March when SVB was placed into receivership. It's critical that the Biden Administration and its regulators not politicize these events. As Chairman of the House Financial Services Committee, I will ensure Members of Congress receive appropriate briefings and information from our federal banking regulators. The Committee will continue to use its authority to provide the transparency the American people deserve regarding recent bank failures."

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