House Financial Services Chair Warns Against Quick Regulatory Fixes For Banking Crisis

The House Financial Services Committee Chairman Patrick McHenry (R-N.C.), warned against quick regulatory fixes for the banking crisis.
The congressman from North Carolina told the American Bankers Association Washington Summit on March 22, we “cannot legislate confidence” when it comes to the banking sector.
He stated that it was too early to see if any new legislation was necessary after the recent failure of Signature Bank and Silicon Valley Bank.
McHenry believes that Congress must first gather the facts and determine what caused both collapses to occur before pushing for new banking regulations.
“Too often, as legislators, we walk around and assume the answer is legislation,” said McHenry to the audience….}