Michael S. Barr: “Well, if a private right of action is the solution, why should Congress empower the Bureau to have any regulatory power…”

The Congress needs to increase the debt ceiling. There are no other options around that.

The failure of SVB illustrates the need to move forward with our work to improve the resilience of the banking system.

Overall, our banking system is sound and resilient.

I think the steps that we took together to stabilize the economy and provide public confidence in the banking system are of assistance to low- and moderate-income households and to all Americans around the country.