McHenry Statement Regarding Actions Taken at August FDIC Board Meeting
Washington,
August 29, 2023
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), released a statement in response to actions taken at the August Federal Deposit Insurance Corporation (FDIC) board meeting.
“The one bright spot from today’s meeting was Director McKernan’s proposal to require the full FDIC Board to vote on the sale of failed banks. While the watered-down staff alternative is a step in the right direction, Director McKernan’s approach was much stronger. His proposal would have provided much-needed transparency to the actions of the FDIC during crisis situations, which has been a top priority of House Republicans’ legislative response to recent bank failures.”
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