Congress announces March 29 hearing into failures of SVB and Signature Bank
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Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks.
In a March 17 notice, Representatives Maxine Waters (NYSE:WAT) and Patrick McHenry — the ranking member and chair of the committee, respectively — said U.S. lawmakers would listen to testimony from federal financial regulators “in response to the failures of Silicon Valley Bank and Signature Bank (NASDAQ:SBNY)” in a March 29 hearing. FDIC chair Martin Gruenberg and Fed Vice Chair for Supervision Michael Barr are expected to appear before Congress.
