Lisa McClain

My Republican colleagues' continued focus on wokeness in banking also suggests that they see improving economic opportunities for people of color and investing in minority-owned businesses as a bad thing.

We were sent to Congress to hold people accountable, especially on this Committee.

We should actually hold the regulators and the government agencies to the same standards that we hold the businesses to.

They need to not be able to walk away.

Evidence that has surfaced since then has shown exactly that. Absolutely, there was incompetence at the top of the bank.

How about we just do the job that you are getting paid to do.

Blaming SVB's collapse on environmental social governance investing or diversity equity and inclusion initiatives is nonsense.

But yet again, Federal bureaucrats fail at their jobs and escape any accountability.

But if you were from $100 to $250, you still had all of the tools in your tool belt, and it was up to you, the regulator, depending on what the report--which from the report I saw was, like, a lot, could have still used those same tools.

The executives and the board at Silicon Valley Bank clearly dropped the ball.

I urge all of my colleagues to cosponsor my Secure Viable Banking, SVB Act, and to roll back Title IV of S. 2155.

In fact, am I to understand it correctly, that it moved it from $250, but at $250 it was mandated that you do X.

The Federal Reserve's autopsy lays a lot of blame at Congress' feet because of changes that were enacted to Dodd-Frank in 2018.

However, I am amazed in my short two and a half years here in Congress to see we have government agency on top of government agency with regulator upon regulator, with more regulation than we know what to do with, whose head is going to…

there is zero accountability and zero heads roll when there is a crisis.

In my first few years in Washington, one thing has been clear, government agencies are not good at taking accountability for their failures.

Not a single resignation or firing or reprimand.

The lack of self-awareness or accountability knows no bounds with this crew.

The fact that there have not been any resignations or any firings at the top of the Fed and the FDIC is unfortunate.

Banks fail. That is a fact. But on March 10, Silicon Valley Bank failed nearly overnight.

However, PBMs, it seems like, has evolved into middlemen with an outsized role in the pharmaceutical marketplace.

I think what is encouraging is if you look around, we all agree, finally, there is a problem and it needs to be fixed, right?

Actions have consequences.

I mean, you want to say August 1st. I mean that is like 3 months, I would think we could be able to get this data in a 3-month period of time.

I hope that you are willing to work with me to get this data from the Department, and get it in actually a timely fashion for the American taxpayers.