"There is nothing pro-business about a bank failure."
"After the failure of Silicon Valley Bank, I introduced two bills."
"There's no question that Congress bowed to political pressure and pursued a deregulatory agenda when it passed Dodd Frank rollbacks in 2018. Congress put profits over people."
"But we agreed the Fed's obligation is to the American people, not to banks."
"Whether it is intentional or not, the Federal Reserve has a pattern here of prioritizing banks' profits."
"I publicly warned my future congressional colleagues not to pass S. 2155, a bill that rolled back Dodd-Frank regulations."
"We deregulated with bipartisan support under President Trump, and now we are back at bank failure."
"Bank regulators needed to better manage Silicon Valley Bank's vulnerability and hold their management accountable more quickly."
"We do not have the right regulations."
"If Dodd-Frank had been kept intact for banks of this size, Silicon Valley Bank would not have had the choice to choose to prioritize its profits over stability."
"As much as I love hearings, I do not love Congress holding hearings on the same things, year after year, because we keep making the same mistakes."
"What these Members of Congress seem to forget is that there is nothing pro-business about a bank failure."