Pat McHenry: “Your predecessor bound your agency to adhere to the memo and the principles within that memo on cost-benefit analysis.”

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.

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

Broad and material changes to the Basel III Endgame necessitate a full reproposal. Full stop.

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