Press Releases

Today, U.S. Representative Wiley Nickel (NC-13) participated in a House Financial Services Committee hearing on Federal regulators’ response to recent bank failures. 

The hearing included panel testimony from Martin J. Gruenberg, Chairman, Federal Deposit Insurance Corporation; Michael S. Barr, Vice Chairman of Supervision, Board of Governors of the Federal Reserve System; and Nellie Liang, Under Secretary for Domestic Finance, U.S. Treasury Department. 

During the hearing, Representative Nickel emphasized the importance of taking action to avoid defaulting on the nation’s debt, pressed the Federal Reserve on recent bank failures, and spoke in support of First Citizens Bank's successful acquisition of Silicon Valley Bank. 

“People in my district are already living paycheck to paycheck and they’re worried about making ends meet. They’re already dealing with the rising cost of everyday goods and services. The last thing they need to worry about right now is their bank—or their employer’s bank— failing,” said Rep. Nickel. “That’s why I’m working to provide transparency and accountability to this process. Where were the regulators? I want to know what the bank executives were doing in the months, weeks, days leading up to this failure. My constituents deserve to know that we’re going to hold bank executives accountable and ensure that this doesn’t happen again.”