Pat McHenry: “U.S. financial institutions are critical in enforcing our sanctions.”

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.

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

We need to understand the decisions that were made last weekend on -- from Thursday until Sunday night...

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.