Michael S. Barr: “I think it would be a mistake to put the CFPB under appropriations.”

I do think the 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.

SVB failed because of a textbook case of mismanagement by the bank and that Federal Reserve supervisors failed to take forceful enough action.

I do not want to live through it again.