Brown, Scott Announce Agreement and Markup on New Bill to Hold Bank Executives Accountable for Failures

Press Release

"Since becoming Ranking Member, I've stressed the importance of regular order and called for the negotiation and development of consensus solutions to the most pressing issues facing the Committee. I'm most proud the Committee will take up my FEND Off Fentanyl bill to address the deadly fentanyl epidemic plaguing our communities. Americans want meaningful action on fentanyl, and it is past time this Committee utilizes our economic tools to choke off the profits of the cartels and Chinese chemical suppliers. I thank the Chairman for joining me in this effort -- now let's turn this into law. In a separate effort, we've worked to find a commonsense solution to address executive accountability that is tailored to protect the American taxpayer and limit government overreach. The recent bank failures didn't happen in a vacuum -- the banks' executives failed to manage their risk, regulators failed to exercise their supervisory responsibilities, and the Biden administration failed to stop spending, which led to rising interest rates. I look forward to continuing the hard work of demanding more answers from the Biden Administration and ensuring our nation never experiences these types of preventable failures again. This markup is the first step in returning to regular order, but I hope that this is not the last. The Committee has much work to do to improve the lives of American families, so I look forward to seeing future markups on housing reform and capital formation."

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