Pat McHenry: “I have serious concerns about the structure of Libra and its establishment outside the United States.”

This is a matter of real substance for the independence of the Fed and the rulemaking at the Federal Reserve.

Jay Clayton is a fantastic leader and will bring credibility to the DNI job!

We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three.

I thank the Chair, and I thank the panel for being with us today to continue our investigation of the poisonous culture at the FDIC.