WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) spoke on the Senate Floor this week to call for the Federal Reserve to withhold enacting new banking regulations until an independent review is conducted on the failure of Silicon Valley Bank.
“Meaningful oversight from regulators requires objectivity and must be done without having a predetermined outcome in mind,” said Sen. Moran. “It should come as no surprise that the Fed’s remedy does virtually nothing to address the root cause of recent bank failures: poor bank management and lax supervision. Instead, I worry that the regulations set in motion will serve as an opportunity for regulators to push a preestablished regulatory agenda that will dry up lending.”
Click HERE to View Sen. Moran’s full remarks