Michael S. Barr: “Consumer choice, individual freedom are at the heart of this.”

The answer is that the Biden Administration allowed this to happen by pursuing a policy of weakness and appeasement that allowed Iran to finance this invasion.

We will definitely be looking into that. And we retain enforcement authority to go after people at the bank who violated the law, or who breached their fiduciary duty, or who engaged in unsafe and unsound practices, and we will hold them…

I have said repeatedly that banks, according to our rules, are well-capitalized today. Our banking system is sound and resilient.

I think it saved a lot of small businesses, households, community banks, and regional banks from a kind of contagion.